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Virtual Reality (VR) Market – Growth, Trends, and Forecast (2019 – 2024)
| Electronics | Published by: Mordor Intelligence | Market: |
| 100 pages | Published: 11-06-2019 |
- Electronics
- Mordor Intelligence
- 100 pages
- Published: 11-06-2019
Market Overview
VR technology has gained widespread recognition and adoption over the past few years. Recent technological advancements in this field have revealed new enterprises. Numerous players are emerging in this market with the hopes to navigate it toward mainstream adoption.
The launch of commercial virtual reality headsets is expected to accelerate the growth of the market. Technological advancements in VR are expected to generate a plethora of VR solutions with diverse capabilities, which allow consumers to experience the utmost immersion. Making the VR experience more real serves as a key driver for market adoption and penetration.
Virtual reality has often found its application compelling, with interactive video games or even movie and television series. Virtual reality serves as a platform to project things that are otherwise too dangerous, expensive, or impractical to do.
Investments by the technology vendors are creating an advancement in the field of display technology, which is likely to change the vision of the traditional methodology. With technology giants, like Google, investing considerable amounts in the tech startups for the development of VR devices, along with other prominent players investing in their R&D over this segment, the future of the market is expected to be more competitive.
Scope of the Report
Virtual reality blurs the line between digital and physical worlds, thereby, generating a sense of being present in the virtual environment for consumers. Several multinational corporations, such as Sony and HTC, are venturing into this market space.
Key Market Trends
Mobile Hardware expected to Hold Major Share
Mobile virtual reality (VR) is the most affordable experience for consumers who want to explore VR without spending a substantial amount of money. Additionally, the portability and massive install base of smartphone users, across the world, lead to its wide-scale adoption. VR headsets rely on the smartphone to display content and use numerous specially developed apps for the same.
For instance, Matterport VR Showcase is a virtual reality app compatible with Samsung Galaxy series (Android KitKat 4.4+), for which the Oculus Gear VR app needs to be installed on the device.
In 2016, approximately 87% of the virtual reality headsets sold worldwide were mobile phone-based, meaning a user’s smartphone mounted on the headset and operated as the screen. Popular mobile phone VR headsets include the Google Daydream View and Samsung Gear VR.
While VR for mobile is currently a less immersive experience than console and PC-based VR, its adoption is expected to increase over the forecast period, due to a host of technological advancements in the mobile VR space. Also, with the growth of smartphones, there is massive potential for the VR market, over the forecast period.
Asia-Pacific Region expected to Witness Significant Growth
Asia-Pacific is expected to hold the major share, owing to the presence of large and several emerging economies, along with the rising acceptance of virtual reality devices in the region. This is, in turn, expected to encourage industry players to invest in the region. China is expected to account for a prominent share in the region, owing to the rising adoption of VR technology in the country. VR took the center stage in China’s tech scenario in 2016. Many startups related to virtual reality are also growing in the country. For instance, Palapple is developing its own VR products. The company also created a project called VResidence, which offers a number of virtual reality real estate products, including an online platform for second-hand property.
Competitive Landscape
The global virtual reality market is witnessing a rise in competitiveness among the companies. The market consists of various major players, such as Oculus, Google, HTC, Samsung, Sony, and Lenovo. In terms of market share, these major players currently dominate the market. However, with increasing innovations in the technology, many of the companies are increasing their market presence by securing new contracts and by tapping new markets.
For instance, in June 2018, Oculus Go was launched in the United Kingdom, Europe, and Canada, less than two months after its US debut. The prices for the standalone VR headset started at EUR 199 (EUR 219/CDN 270). Further, in 2018, Sony Corporation patented a VR headset that combats simulation sickness with eye-tracking and more. According to the patents, the headset would use these features to establish a “health threshold value†that could presumably tell when a VR experience was becoming too intense for the user and then act accordingly.
Reasons to Purchase this report:
– The market estimate (ME) sheet in Excel format
– Report customization as per the client’s requirements
– 3 months of analyst support
1 INTRODUCTION
1.1 Scope of the Study
1.2 Study Assumptions
1.3 Study Deliverables
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Industry Value Chain Analysis
4.3 Introduction to Market Drivers and Restraints
4.4 Market Drivers
4.4.1 Increasing Adoption of Virtual Reality in Commercial Application
4.4.2 Increasing Demand for VR Setup for Training Across Various End-user Segments
4.5 Market Restraints
4.5.1 Health Risks from Using Virtual Reality Headsets in the Long Run
4.6 Industry Attractiveness of Porter’s Five Forces Analysis
4.6.1 Bargaining Power of Suppliers
4.6.2 Bargaining Power of Consumers
4.6.3 Threat of New Entrants
4.6.4 Threat of Substitute Products
4.6.5 Competitive Rivalry within the Industry
5 MARKET SEGMENTATION
5.1 By Type
5.1.1 Hardware
5.1.1.1 Mobile
5.1.1.2 Console
5.1.1.3 PC
5.1.2 Software
5.2 By End-user Vertical
5.2.1 Consumer
5.2.1.1 Gaming
5.2.1.2 Media and Entertainment
5.2.2 Commercial
5.2.2.1 Retail
5.2.2.2 Healthcare
5.2.2.3 Military and Defense
5.2.2.4 Real Estate
5.2.2.5 Education
5.3 Geography
5.3.1 North America
5.3.2 Europe
5.3.3 Asia-Pacific
5.3.4 Latin America
5.3.5 Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Oculus VR LLC
6.1.2 Sony Corporation
6.1.3 Samsung Electronics Co. Ltd.
6.1.4 Google LLC
6.1.5 Lenovo Group Ltd.
6.1.6 Pico Interactive Inc.
6.1.7 StarVR Corporation
6.1.8 FOVE Inc.
6.1.9 Unity Technologies Inc.
6.1.10 Unreal Engine (Epic Games Inc.)
6.1.11 Crytek GmbH
6.1.12 Autodesk Inc.
6.1.13 Eon Reality Inc.
6.1.14 3D Systems Corporation
6.1.15 Dassault Systemes SE
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
MARKET SEGMENTATION
By Type
Hardware
Mobile
Console
PC
Software
By End-user Vertical
Consumer
Gaming
Media and Entertainment
Commercial
Retail
Healthcare
Military and Defense
Real Estate
Education
Geography
North America
Europe
Asia-Pacific
Latin America
Middle East & Africa
Vietnam Digital Signage Market – Growth, Trends, and Forecasts (2018 – 2023)
| Electronics | Published by: Mordor Intelligence | Market: |
| Unknown | Published: 25-06-2019 |
- Electronics
- Mordor Intelligence
- pages
- Published: 25-06-2019
Market Overview
The Vietnamese digital signage market was valued at USD 373.55 million in 2017, and is expected to reach USD 645.83 million by 2023, recording a CAGR of 9.39% during the forecast period (2018-2023).
Asia-Pacific has several developing nations with rapidly developing economies. There have been large scale investments by major players, in various regional industries. In Vietnam, there exists cut-throat competition between the companies of the neighboring origin and large multi-national corporations trying to establish a foothold on the regional market. Technological advancements in the recent past have led to the development of OLEDs that offer much clearer picture and are not very expensive, than the other available solutions.
The retail industry was expected to be the largest revenue share holder in the display advertising revenue. Vietnam lags behind on the economic scale, as compared to the neighboring nations in the region, and is expected to witness significant growth in the near future, owing to the increasing interest of large conglomerates willing to enter the market and compete with local manufactures and enterprises for control over the market.
Technological Advancements Reduce the Costs of Infrastructure and Displays
Digital signage is being pervasively used in and on all modes of public transportation, to meet the needs of on-the-go viewers, providing real time, location- and context-awareness related to traveler information and advertising. Technological advancements have led to the development of better and higher quality products, leading to conventionally new players reducing prices and being affordable for the smaller industries and enterprises.
Liquid Crystal Display (Plasma) Expected to Dominate the Market
LCDs allow smoother scrolling text and reduced motion blur in digital signage messaging, which are important considerations, as visual displays are being deployed for critical purposes, to drive sales and engage customers. The result is a high contrast ratio, which offers a better picture and energy savings. The system, with rate A and B in the biggest cities, especially Hanoi and Ho Chi Minh City, is currently attracting 2.16 million views per day, around 70% of the total screen view in all commercial buildings. The largest urban populated cities, such as Hanoi and Ho Chi Minh, have deployed digital signage systems in commercial buildings as well.
Commercial Segment Dominated the Digital Signage Market
The retail sector has been the largest contributor to the digital signage market in the country. The growth of the market in the retail sector can be attributed to the increasing implementation of digital marketing and advertisements. As a well-structured digital signage and campaign has a significant effect on the consumer decision, they boost sales at a major scale. Digital signage systems are finding their place in retail sector, by means of applications, such as video walls, interactive kiosks, end-cap signage, way finding, point of purchase tools, infotainment, in-store advertising network, digital menu boards, etc.
Key Developments in the Market
Oct 2017 – NEC Display Solutions and BrightSign teamed up to offer bundled digital signage solutions, as a part of NEC’s alliance partnership program.
Reasons to Purchase this report:
– The market estimate (ME) sheet in Excel format
– Report customization as per the client’s requirements
– 3 months of analyst support
Table of Contents
1. Introduction
1.1 Key Deliverables of the Study
1.2 Study Assumptions
1.3 Market Definition
1.4 Key Findings of the Study
2. Research Approach and Methodology
3. Executive Summary
4. Market Dynamics
4.1 Market Overview
4.2 Factors Driving the Market
4.2.1 Technological Advancements Reducing Cost of Infrastructure and Displays
4.2.2 Positive Impact of Outdoor Advertising
4.3 Factors Restraining the Market
4.3.1 High Capital Investments and Lack of General Awareness
4.4 Industry Value Chain Analysis
4.5 Industry Attractiveness – Porter’s Five Forces Analysis
4.5.1 Bargaining Power of Suppliers
4.5.2 Bargaining Power of Consumers
4.5.3 Threat of New Entrants
4.5.4 Threat of Substitute Products and Services
4.5.5 Competitive Rivalry among Existing Competitors
4.6 Industry Policies
5. Technology Snapshot
6. Vietnamese Digital Signage Market Segmentation
6.1 By Mode of Display
6.1.1 Liquid Crystal Display/Plasma
6.1.2 LEDs
6.1.3 Projection Screens
6.1.4 OLEDs
6.1.5 Others
6.2 By Solution Type
6.2.1 Hardware
6.2.2 Software
6.3 By Application
6.3.1 Infrastructure
6.3.2 Industrial
6.3.3 Commercial
6.3.4 Others
7. Competitive Intelligence – Company Profiles
7.1 Digital Signage Viet. JSC
7.2 Net & Com Integrated Telecom JSC
7.3 Vodatel Integrated Solutions Vietnam Co. Limited
7.4 NEC Corporation (Vietnam)
7.5 ATT Systems Group (Vietnam)
7.6 Shoei Vietnam Co. Limited
7.7 Inavate AV
7.8 Ingram Micro (Intel Corporation)
8. Investment Analysis
9. Outlook of the Vietnamese Digital Signage Market
Market Segmentation
By Mode of Display
Liquid Crystal Display/Plasma
LEDs
Projection Screens
OLEDs
Others
By Solution Type
Hardware
Software
By Application
Infrastructure
Industrial
Commercial
Others
Video Surveillance System Market Size, Share – Segmented by Type (Software, Hardware, and Services), End-User Vertical (Commercial, Infrastructure, Institutional, Industrial, Defense, and Residential), and Region – Growth, Trends, and Forecast (2019 – 2024)
| Electronics | Published by: Mordor Intelligence | Market: |
| Unknown | Published: 24-06-2019 |
- Electronics
- Mordor Intelligence
- pages
- Published: 24-06-2019
Market Overview
The global video surveillance system market was valued at USD 40.37 billion in 2018, and is expected to reach a value of USD 95.98 billion by 2024, recording a CAGR of 15.53% over the forecast period (2019 – 2024). The use of video surveillance in business is growing significantly, owing to the increasing need for physical security, coupled with the use of cloud-based services for centralized data.
Video surveillance is majorly adopted in manufacturing, banking & financial services, and transportation and retail industries. This incorporation is higher in countries, such as the United States, the United Kingdom, China, and Brazil, owing to the large size of the concerned industries and higher awareness among consumers.
Globally, the drive to enhance the safety and security across different industries is adding to the market growth, significantly. With rapid developments in cloud computing and video surveillance software, the surveillance market has transformed, in comparison to the previous decade.
VSaaS has been increasing over the recent years, owing to the market penetration of IP camera sales. Significant factors, such as IT cost containment by major IT organizations, the emergence of data centers, and improving functionalities associated with centralized data, are aiding the VSaaS segment.
The growth of the video surveillance market is expected to be fueled by the introduction of new IP-based digital technologies, to detect and prevent undesirable behaviors, such as shoplifting, thefts, vandalism, and terror attacks.
Scope of the Report
Video surveillence systems is a group of one or more video cameras on a network that sends the information of the captured video or audio over to a certain place. This information or the captured images are live monitored or sent a central location for storage and recording. This report segments the market based on type, end-user industry and geography.
Key Market Trends
Commercial sector is Expected to Hold the Largest Market Share in the Forecast Period
In the recent years, the demand for video surveillance in the commercial segment has increased substantially. The various end users in this segment include – banking & financial, retail or wholesale, and media & entertainment industries.
In banks and financial institutions, the increasing number of thefts and fraudulent transactions, in addition to stringent regulatory environment are expected to bolster the deployment of video surveillance systems.
For instance BS/2, a Lithuanian banking technology company and VisionLabs, announced a strategic partnership for contactless identification that would help the comapnies to greatly increase security and would ward off the risks associated with the fradulent or unlawful activities while operating self service terminals there by making ATMeye.iQ full-scale self-service video surveillance and fraud prevention system and LUNA face recognition platform the foundation for the introduced services.
In the retail sector, video surveillance is deployed to prevent shoplifting. They are also used to keep a tab on the shop-floor activities, such as, the movements of employees, customers, goods, etc.
The video surveillence systems can also be used to track the consumer behavior at a store regarding a particular segment in a retail store. For instance in a branch of KFC in Beijing, a computer through camera scans their faces decides on what people will eat by placing orders according to age, gender and mood.
North America is Expected to Showcase Significant Market Growth
In the United States, after the 9/11 terror attacks, there has been a significant rise in the demand for effective security and surveillance System. Recently, Memphis Police Department (MPD) has teamed up with Hangzhou Hikvision Digital Technology, a supplier of innovative video surveillance products, to deploy holistic security solutions to ensure safety of the residents of Memphis.
Stadium operators are using advanced network surveillance System to monitor every corner of the stadium. The famous “Little League World Series” had tied up with Axis communications for implementing effective video surveillance solutions.
The integration of the video surveillance solutions in the transportation industry is one of the major trends observed in this region.
To enhance security for the Chicago public transportation System, the second largest city in the United States with 1.7 million daily traffic, the government relied on Sentry360 to establish a unified surveillance System.
Competitive Landscape
The competitive rivalry in the video surveillance market is high due to the presence of many key players constantly upgrading themselves in order to gain a competitive advantage over other players. The video surveillance market is currently dominated by major players like Honeywell, Bosch, Samsung, Schneider Electric, Panasonic and many more.
Reasons to Purchase this report:
– The market estimate (ME) sheet in Excel format
– Report customization as per the client’s requirements
– 3 months of analyst support
1. INTRODUCTION
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Value Chain / Supply Chain Analysis
4.3 Industry Attractiveness – Porter’s Five Force Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
4.4 Introduction to Market Drivers and Restraints
4.5 Market Drivers
4.5.1 Augmented Demand of IP Cameras
4.5.2 Emergence Of Video Surveillance-as-a-Service (VSAAS)
4.5.3 Increasing Demand For Video Analytics
4.6 Market Restraints
4.6.1 Privacy and Security Issues
4.6.2 Need for High-capacity Storage for High-resolution Images
4.6.3 Government Intervention for Preventing Institutional Wrong Doings
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Software
5.1.2 Hardware
5.1.3 Services
5.2 By End-user Industry
5.2.1 Commercial
5.2.2 Infrastructure
5.2.3 Institutional
5.2.4 Industrial
5.2.5 Defense
5.2.6 Residential
5.3 Geography
5.3.1 North America
5.3.1.1 US
5.3.1.2 Canada
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 UK
5.3.2.3 France
5.3.2.4 Rest of Europe
5.3.3 Asia Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Rest of Asia-Pacific
5.3.4 Latin America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of Latin America
5.3.5 Middle East and Africa
5.3.5.1 UAE
5.3.5.2 Saudi Arabia
5.3.5.3 South Africa
5.3.5.4 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Axis Communications AB
6.1.2 Bosch Security Systems Incorporated
6.1.3 Honeywell Security Group
6.1.4 Samsung Group
6.1.5 Panasonic Corporation
6.1.6 FLIR systems Inc.
6.1.7 Schneider Electric
6.1.8 NICE Limited
6.1.9 Infinova Corporation
6.1.10 Zhejiang Dahua Technology Company Limited
6.1.11 Hangzhou Hikvision Digital Technology Company Limited
*List Not Exhaustive
7. INVESTMENT ANALYSIS
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
MARKET SEGMENTATION
By Type
Software
Hardware
Services
By End-user Industry
Commercial
Infrastructure
Institutional
Industrial
Defense
Residential
Geography
North America
US
Canada
Europe
Germany
UK
France
Rest of Europe
Asia Pacific
China
Japan
India
Rest of Asia-Pacific
Latin America
Brazil
Argentina
Rest of Latin America
Middle East and Africa
UAE
Saudi Arabia
South Africa
Rest of Middle East and Africa
Vibration Sensor Market – Growth, Trends and Forecast (2019 – 2024)
| Electronics | Published by: Mordor Intelligence | Market: |
| 100 pages | Published: 11-06-2019 |
- Electronics
- Mordor Intelligence
- 100 pages
- Published: 11-06-2019
Market Overview
The global vibration sensor market was valued at USD 3,354.73 million in 2018, and is expected to reach USD 5,150 million by 2024, registering a CAGR of 7.39% over the forecast period (2019-2024). In an increasingly competitive industrial market, where new features are required to produce smarter’ tools, monitoring the condition of various components has become a fundamental need. This is expected to boost the demand for vibration sensors over the forecast period.
The innovations and developments in technology led to better functioning and improved the productivity of machines. Thus, machine condition monitoring plays an important role in improving the machine’s performance.
Although the demand for vibration sensors has been on the rise since the last few years, compatibility concerns, especially in the case of old equipment, have been identified as major challenges affecting the market.
With the increasing energy demand, there is an increasing need for energy efficiency, which can only be obtained from the optimal maintenance of the electricity supply machinery.
Scope of the Report
Vibration monitoring and analysis are the important quality measurement phenomenon in modern industrial infrastructure. The three parameters that represent vibration monitors are velocity, acceleration, and displacement. The selection of the sensor is proportional to velocity, displacement, or acceleration, which depend on signal levels and frequency that are involved.
Key Market Trends
Aerospace & Defense End User to Hold Significant Share
Increase in situational awareness to drive operations, cost-effective maintenance, and increase in asset utilization are some of the key factors driving the demand for aircraft health monitoring systems.
The passenger traffic in Europe and other major aviation markets, such as the United Kingdom and Germany, have witnessed growth in terms of the number of passengers and aircraft movements, which is expected to drive the market during the forecast period.
Turbine engine failures are the primary cause of mechanical failures, which is increasing the costs; hence, users are increasingly turning to prognostic health management (PHM) systems to prevent these losses and to reduce maintenance costs. As vibration is the most common health monitoring parameter in the aerospace engine industry, the development of PHM systems is likely to have a direct impact on the growth of vibration sensors.
United Kingdom to Hold Significant Share in Europe Region
The United Kingdom is home to the largest aerospace industry; with almost one fifth of the global revenues being generated form aerospace; the country is preceded only by the United States.
Advanced vibration sensors are used for harsh application environments, like rotor track and balance (RT&B) in aircraft. They also serve applications in aircraft design and testing, offering both DC-response (static) and AC-response (dynamic) types of accelerometers.
Growth of consumer electronics in the country has led to a rise in vibration sensors being integrated in the appliances. In 2016, retail volume growth of wearable electronics was driven by activity wearables, with 2.2 million sold products in the United Kingdom.
Competitive Landscape
The vibration sensor market is highly fragmented. The presence of global sensor manufacturers, with established brand identities in the market, is expected to have a profound influence on the intensity of competitive rivalry, as new entrants face challenges in reaching out to consumers. Brand identity plays a strong role in determining buyer behavior.
Therefore, well-known companies have a considerable advantage over other players in the market. Some of the key players are Texas Instruments, Honeywell, and Emerson. Some of the key developments in the market include:
Analog Devices Inc. announced a next-generation accelerometer, designed for long-period monitoring of the physical condition of high-value assets. With its extremely low-power capabilities, the ADXL372 micropower high-g MEMS accelerometer targets Internet of Things (IoT) solutions, where shock and impact on a unit during storage, transit, or use would adversely affect its function, safety, or reliability.
Texas Instruments introduced the industry’s highest performing reinforced isolated amplifier in June 2016.
Reasons to Purchase this report:
– The market estimate (ME) sheet in Excel format
– Report customization as per the client’s requirements
– 3 months of analyst support
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Increasing Need for Machine Condition Monitoring and Maintenance
4.3.2 Longer Service Life, Self Generating Capability, and Wide Range of Frequency of Vibration Sensors
4.4 Market Restraints
4.4.1 Compatibility With Old Machinery
4.5 Value Chain Analysis
4.6 Industry Attractiveness- Porters Five Forces Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers/Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Product
5.1.1 Accelerometers
5.1.2 Velocity Sensors
5.1.3 Non-contact Displacement Transducers
5.1.4 Other Products
5.2 By End-User Industry
5.2.1 Automotive
5.2.2 Healthcare
5.2.3 Aerospace and Defence
5.2.4 Consumer Electronics
5.2.5 Oil and Gas
5.2.6 Other End-user Industries
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Rest of Asia-Pacific
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Mexico
5.3.4.4 Rest of South America
5.3.5 Middle East & Africa
5.3.5.1 United Arab Emirates
5.3.5.2 Saudi Arabia
5.3.5.3 South Africa
5.3.5.4 Rest of Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Rockwell Automation Inc
6.1.2 SKF GmbH
6.1.3 National Instruments Corporation
6.1.4 Texas Instruments Incorporated
6.1.5 Analog Devices, Inc.
6.1.6 Emerson Electric Corp.
6.1.7 Honeywell International Inc.
6.1.8 NXP Semiconductors NV
6.1.9 TE Connectivity Ltd.
6.1.10 Hansford Sensors Ltd.
6.1.11 Bosch Sensortec GmbH (Robert Bosch GmbH)
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
MARKET SEGMENTATION
By Product
Accelerometers
Velocity Sensors
Non-contact Displacement Transducers
Other Products
By End-User Industry
Automotive
Healthcare
Aerospace and Defence
Consumer Electronics
Oil and Gas
Other End-user Industries
Geography
North America
United States
Canada
Europe
Germany
United Kingdom
France
Rest of Europe
Asia-Pacific
China
Japan
India
Rest of Asia-Pacific
South America
Brazil
Argentina
Mexico
Rest of South America
Middle East & Africa
United Arab Emirates
Saudi Arabia
South Africa
Rest of Middle East & Africa
UV LED Market – Growth, Trends, and Forecast (2019 – 2024)
| Electronics | Published by: Mordor Intelligence | Market: |
| 100 pages | Published: 11-06-2019 |
- Electronics
- Mordor Intelligence
- 100 pages
- Published: 11-06-2019
Market Overview
The UV LED Market was valued at USD 345.77 million in 2018, and it is expected to reach a value of USD 900 million by 2024, at a CAGR of 17.13% over the forecast period (2019-2024).
UV-C LEDs have a particularly low external quantum efficiency (EQE). They only convert about 5% of the power input into light. The remaining 95% of the power is converted to heat, which must be quickly removed to keep the LED junction below its maximum operating temperature. Failure to keep the LED cool will at best shorten its life, and at worse cause it to fail catastrophically.
Increasing environmental concerns and ongoing actions under the legislation to cut the emissions of volatile organic compounds (VOCs) have been the major driving forces behind the development of radiation curing coatings over the past few years.
UV LED’s power output grows considerably with its technologies being redeveloped. Also, UV LED has a longer lifespan, smaller size, more uniform light distribution, and it saves more energy. Due to this, most countries approved the Minamata Convention on Mercury in 2013 and approved energy-saving policies.
Scope of the Report
Ultraviolet (UV) LED lights emit a light that is nearly invisible to the naked eye, but has many practical applications. UV LED lights can be used to authenticate documents like driver’s licenses, passports, credit cards, and currency, all of which include watermarks that are visible under UV light.
Key Market Trends
Increasing Investments in Healthcare and Scientific Applications
A UV-B LED is usually used in applications, such as medical phototherapy. This technology is highly effective and efficient in offering vitamin D3 to the human skin, as compared to sunlight.
UV LEDs are used in medical equipment used for phototherapy, DNA analysis, drug discovery, and vitamin analysis. The global healthcare industry is progressing at a rapid pace and will expand indefinitely during the forecast period. The increasing investments in healthcare and scientific applications in the Americas have been driving the revenues for all related markets, including the UV LED technology market
Vitamin D is one of the most important nutrients for human health, and moreover, people having malabsorption disorders are highly reliant on vitamin D3. The UV-B LED was found to be more than 2.4 times efficient in an experiment with Rayvio’s 293nm LED than sunlight in 1/60th the time.
North America is Expected to have Highest Market Share
In the United States, UV lights have been using in the industry, military, and customer products over a long period. The principal application is based on the technology of UV used, i.e., whether it lies in the A, B, or C wavelength of the electromagnetic spectrum.
UVA lamps have been traditionally used in the printing, photolithography, and curing through UV lamps that worked with arc-discharge mercury or amalgam lamps. One of the primary concerns with such lamps is the use of mercury that is regarded as toxic and non-environment-friendly technology. These shortcomings have resulted in the use of UV LED in the market and has been a common trend in every region. The major use of UVA has been in the energy-curable printing.
Drinking water contaminants pose harm to public health. Some can cause immediate illness. There have been incidents, such as the 16 million cases of acute gastroenteritis occurring each year at US community water systems. In the United States, as per the National trends in drinking water quality violations research, Feb 2018 findings, health-based drinking water quality violations are widespread, with 9 million to 45 million people affected during each of the past 34 years. The results were published in US National Library of Medicine National Institutes of Health Search database and are a good indicator of demand in the future.
CFR – Code of Federal Regulations Title 21, mentions the regulatory obligations of the product to be followed by the UV LED manufacturers and has pushed for further improvements. Stricter regulations and the scarcity of raw materials are generally considered to be drivers of innovation, and the same has been observed in the market for products that are directly used by customers.
Competitive Landscape
The UV LED Market is highly fragmented with many companies in the competition, Some of the major players in UV LED Market are LG, Nordosn. Some of the key developments in UV LED Market are as follows:
Legrand and Lumileds announced a partnership agreement that will bring to market a simple to integrate and easy-to-install plug and play solution that delivers high-quality tunable-white light. Under this agreement, Lumileds will provide intelligent light sources (LUXEON-based solutions) through its Matrix Platform that are uniquely characterized and programmed to work with Legrand’s Wattstopper Blanco tunable-white logic modules within the Wattstopper digital lighting management (DLM) lighting controls solution.
LG Innotek planed to launch the high-end UV LED brand,InnoUV .†The company plans to give the common name “InnoUV†to all of its UV LED products, apply a separately created brand logo design to them, and allow all finished products that use the company’s UV LED to use the logo.
Seoul Viosys introduced its plans to commercialize UV LEDs based on chip-scale packaging (CSP) technology. In line with this, the company was also been awarded with a patent for the technology development and design.
Reasons to Purchase this report:
– The market estimate (ME) sheet in Excel format
– Report customization as per the client’s requirements
– 3 months of analyst support
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Rising Adoption of UV Curing
4.3.2 Benefits of UV LED Technology
4.4 Market Restraints
4.4.1 Thermal Challenges
4.5 Industry Attractiveness Porters Five Force Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Technology
5.1.1 UV-A
5.1.2 UV-B
5.1.3 UV-C
5.2 By Application
5.2.1 Optical Sensors and Instrumentation
5.2.2 Counterfeit Detection
5.2.3 Sterilization
5.2.4 UV Curing
5.2.5 Medical Light Therapy
5.2.6 Other Applications (Photocatalytic purification, Tanning)
5.3 Geography
5.3.1 North America
5.3.1.1 US
5.3.1.2 Canada
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 UK
5.3.2.3 France
5.3.2.4 Rest of Europe
5.3.3 Asia Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 South Korea
5.3.3.4 Rest of Asia-Pacific
5.3.4 Latin America
5.3.4.1 Brazil
5.3.4.2 Chile
5.3.4.3 Mexico
5.3.4.4 Rest of South America
5.3.5 Middle East and Africa
5.3.5.1 UAE
5.3.5.2 South Africa
5.3.5.3 Rest of Middle East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Lumileds Holding B.V.
6.1.2 LG Innotek Co. LTD.
6.1.3 Nordson Corporation
6.1.4 Honle UV America Inc.
6.1.5 Seoul Viosys Co. Ltd.
6.1.6 Nichia Corporation
6.1.7 Semileds Corporation
6.1.8 Aquionics Inc. (A Halma Company)
6.1.9 Crystal IS Inc.
6.1.10 Heraeus Holding GmbH
6.1.11 Fuji Xerox Co. Ltd.
7 MARKET INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
MARKET SEGMENTATION
By Technology
UV-A
UV-B
UV-C
By Application
Optical Sensors and Instrumentation
Counterfeit Detection
Sterilization
UV Curing
Medical Light Therapy
Other Applications (Photocatalytic purification, Tanning)
Geography
North America
US
Canada
Europe
Germany
UK
France
Rest of Europe
Asia Pacific
China
Japan
South Korea
Rest of Asia-Pacific
Latin America
Brazil
Chile
Mexico
Rest of South America
Middle East and Africa
UAE
South Africa
Rest of Middle East and Africa
US LED Market – Growth, Trends, Forecast (2019 – 2024)
| Electronics | Published by: Mordor Intelligence | Market: |
| 85 pages | Published: 14-06-2019 |
- Electronics
- Mordor Intelligence
- 85 pages
- Published: 14-06-2019
Market Overview
The US LED market was valued at USD 8.82 billion in 2018 and is expected to register a CAGR of 12.6% over the forecast period (2019-2024). Residential LEDs, especially ENERGY STAR rated products, use at least 75% less energy, and last 25 times longer, than incandescent lighting. Widespread use of LED light also has the most significant potential impact on energy savings in the United States.
The high efficiency and directional nature of LEDs make them perfect for multiple industrial uses. LED lights are increasingly being incorporated in parking garage lightway, walkway, street lights, modular lighting, and task lighting among other things.
The LED lighting penetration in terms of cumulative installations is significantly lower compared to its market share of unit shipments. There are two primary reasons for this phenomenon. Firstly, the total number of lighting products installed, i.e. the U.S. inventory of lighting, is significantly larger than the total number shipped each year, since the lifetime of lighting products in several applications exceeds one year.
Secondly, the cumulative installed penetration of LED lighting increases as it replaces conventional lighting technologies. Therefore, when an existing LED product installed is replaced by a newer LED product, either due to failure or lighting upgrade, it results in almost zero net gain to the installed penetration of LED lighting. The importance of this phenomenon increases the longer a technology is available on the market and affects the cumulative installed stock of LED lights.
Scope of the Report
The United States LED market is segmented into two categories, indoor and outdoor, based on the type of use. The indoor segment is further subdivided into the residential, commercial, and industrial sector. Based on category type, the market is further segmented into general purpose, integrated fixture/luminaire, linear, and reflector.
Key Market Trends
General Purpose Lighting to Hold Major Share
The alternatives to incandescent light bulbs, which are energy efficient, have been available for a long time. Since the past few years, market conditions have been favoring and LED bulbs are poised for widespread consumer adoption.
Moreover, price decrease, energy savings, and an independent certification for rigorous performance standards are bolstering customer satisfaction. Traditional incandescent light bulbs comprising of 100-40W bulbs have catered to the basic lighting needs in the country for more than a century. However, 90% of the energy used is wasted as heat and only 10% is used to deliver light.
The adoption of LED bulbs has been majorly augmented by the Energy Independence and Security Act (EISA) of 2007 general service lamp standards. The maximum wattage standards, which began to take effect from 2012, requires a 25% efficiency increase for all general service lamps.
Competitive Landscape
The United States LED market is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. These major players with a prominent share in the market are focusing on expanding their customer base across foreign countries. These companies are leveraging on strategic collaborative initiatives to increase their market share and increase their profitability. In Nov 2017, Cree launched KBL LED High-Bay Series, a solution for various applications such as retail, civic, and industrial. As a result, it is projected to attract new and existing customers. Further in Jan 2018, Feit Electric Company launched a LED product line complying with the California energy commission standards, which is likely to drastically boost the company’s presence and help in enticing new consumers.
Reasons to Purchase this report:
– The market estimate (ME) sheet in Excel format
– Report customization as per the client’s requirements
– 3 months of analyst support
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 PESTLE Analysis
4.3 Industry Attractiveness Porter’s Five Force Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
4.4 Industry Value Chain Analysis
5 MARKET SEGMENTATION
5.1 By Type of Use
5.1.1 Indoor
5.1.1.1 Residential
5.1.1.2 Commercial
5.1.1.3 Industrial
5.1.2 Outdoor
5.2 By Category Type
5.2.1 General Purpose
5.2.2 Integrated Fixture/Luminaire
5.2.3 Linear
5.2.4 Reflector
6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Acuity Brands Inc.
6.2.2 Cree Inc.
6.2.3 GE Lighting (General Electric Co.)
6.2.4 Eaton Corporation
6.2.5 Hubbell Incorporated
6.2.6 Feit Electric Company Inc.
6.2.7 OSRAM Licht AG
6.2.8 Philips Lighting
6.2.9 Samsung Electronics Co. Ltd.
6.2.10 Bridgelux Inc.
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
MARKET SEGMENTATION
By Type of Use
Indoor
Residential
Commercial
Industrial
Outdoor
By Category Type
General Purpose
Integrated Fixture/Luminaire
Linear
Reflector