What will Ensure Steady Growth in Global Vision Sensor Market in Future?

The global vision sensor market is expected to reach revenue of $9.2 billion by 2030 from its recorded value of $2.5 billion in 2019. On the basis of type, the vision sensor market is divided into monochrome and color categories. Of these, the monochrome category had the larger market share, in terms of revenue, in 2019.

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This is primarily attributed to the numerous technical advantages offered by the monochrome variants in various applications, such as better edge detection, as compared to  color sensors. Moreover, monochrome variants require lesser light power than the color ones, which causes a huge spike in the demand for the former, every year.

Depending on industry, the vision sensor market is divided into multiple categories, namely food & beverages, pharmaceutical, packaging, automotive, electronics, and others, wherein the others category includes the metal industry and logistics.

Amongst all the categories, packaging is predicted to record the fastest growth, in terms of revenue, during the forecast period. The main factor contributing toward its rapid growth would be the escalating demand for flexible packaging in various countries, such as the U.S. and China, as a result of the technological advancements in the field.

The biggest trend being witnessed in the vision sensor market growth is the soaring demand for smart sensors. This is primarily attributed to the rising adoption of internet of things (IoT), along with the numerous technological advancements in artificial intelligence (AI) and cloud computing.

The implementation of the deep learning technology in vision sensors will allow for the accurate detection of defects, from a set of reference data pictures. The Industrial Technology Research Institute (ITRI) of Taiwan deployed 3D smart vision sensors in garment production, in 2019.

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Smartwatch Market Segmentation By Key Vendors, Types, Future Growth And Outlook

The popularity of smartwatches among consumers has resulted in the increasing demand for high-end wristwatches, which are equipped with features and functionalities that go beyond just timekeeping and basic smart features. At the initial stage, smartwatches were able to perform tasks, such as notifications and calculations, but since 2015, smartwatches have been enabled with OS for media, digital features, and computing functionalities.

In 2017, the global smartwatch market generated a revenue of $10.2 billion, and is predicted to generate $43.8 billion, growing a CAGR of 22.7% by 2023.

At the present time however, smartwatches are also equipped with shockproof and waterproof features along with smartphone capabilities. Moreover, manufacturers are now focusing on the development of highly advanced smartwatches which are enabled with features such as GPS receivers, ample storage, thermometers, high-definition cameras, and tiny powerful cameras.

The emergence of smartwatch-controlled automotive capabilities is leading to the rising demand for smartwatches across the globe. Earlier, smartphones were integrated with automotive control features, but now smartwatches equipped with automotive control capabilities are expected to be the next big thing in the autonomous and smart cars industry.

Due to technological innovations, companies are able to provide app-based offerings which are compatible with next-gen smartwatches and go beyond unlocking and locking of cars, driver assistance, and remote starting of cars.

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Take for instance, Viper SmartStart 4.0, a next-generation technology compatible with smartwatches, which is able to put vehicle control on the user’s wrist via installed SmartStart module, further enabling connection of the vehicle to a wireless network, integration of CDMA/3G technology, and remote start system.       

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Automotive Ultrasonic Sensors Market Growth and Demand Forecast to 2030

The global automotive ultrasonic sensors market is expected to reach revenue of $6,096.2 million by 2030. It was valued at $3,461.9 million in 2019, from where it is predicted to witness a CAGR of 5.1% during 2020–2030 (forecast period). On the basis of vehicle autonomy, the fully-autonomous vehicle bifurcation, due to the increasing adoption of such automobiles in shared mobility services worldwide, is predicted to witness faster growth during the forecast period.

The biggest trend being witnessed in the automotive ultrasonic sensors market is the regular technological innovations taking place in such vehicle components. For instance, the increase in the efforts being undertaken to maintain the accuracy of these sensors at driving speeds above 10 km/ hour are an reflection of such measures.

The rise in the safety concerns, with regard to vehicles, are driving the governments of numerous countries to enact stringent policies for the installation of various safety features, such as blind spot detection (BSD), in vehicles. The biggest example of this is the European Union’s (EU) mandatory policy of equipping all new lorries, since 2007, and older lorries, since 2009, with blind spot mirrors. The dependence of these safety features on ultrasonic sensors for their functioning is driving the growth of the automotive ultrasonic sensors market.

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Asia-Pacific (APAC) is predicted to be grow the fastest in the automotive ultrasonic sensors market, over the forecast period. On the basis of country, China is expected to register the highest demand for advanced sensors, such as ultrasonic sensors, in the coming years. This is mainly due to the rapid rise in the technological innovations in autonomous vehicles in the country.

There are no major dominating players in the global automotive ultrasonic sensors market, and as a result, the market has multiple key players, such as Baumer Holding AG, Honeywell International Inc., Magna International Inc., Autoliv Inc., Aptiv PLC, Elmos Semiconductor AG, TE Connectivity Ltd., Valeo SA, Texas Instruments Inc., First Sensor AG, and TDK Corp.

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ADAS Sensor Market Growth and Demand Forecast to 2030

From $11.5 billion in 2019, the advanced driver assistance system (ADAS) sensor market is predicted to grow to $40.8 billion in 2030, at an 11.7% CAGR between 2020 and 2030 (forecast period). Amon all sensor types, radar sensors dominated the market during 2014–2019, in value terms. During the forecast period, the light detection and ranging (LiDAR) category would observe the fastest progress, on account of the increasing sale of fully autonomous vehicles.

A key trend in the ADAS sensor market is the increasing research and development (R&D) activities in the automotive sector, which have made possible the production of better autonomous vehicles. For instance, the U.S. government sanctioned $100 million for autonomous vehicle R&D, in 2018, and supplemented it with another funding, of $60 million, the next year, for a project to test the feasibility and safety of such automobiles.

The most prominent growth driver for the ADAS sensor market is the various government regulations being introduced that encourage the manufacturing and sale of autonomous cars. Every year, an increasing number of such regulations are being passed and policies introduced. While 33 U.S. states introduced such bills in 2017, an additional 15 tabled a total of 18 bills in 2018. Similarly, the Spanish Directorate General of Traffic partnered with Mobileye NV to create infrastructure and regulatory policies for the usage of autonomous cars in the country, in 2017.

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During the historical period, Europe was the largest ADAS sensor market. Asia-Pacific (APAC) would grow the fastest during the forecast period, with China witnessing the highest CAGR in the region. The robust growth of the Chinese market is attributed to its heavy automobile production volume and constant evolution in the automotive technology, which is leading to the development of autonomous vehicles.

To stay relevant and augment their revenue, the major ADAS sensor market players are looking at product launches, partnerships and collaborations, mergers and acquisitions, and several other measures. For instance, in September 2019, Omnivision Technologies Inc. and Arm Ltd. announced a partnership, under which the former’s OX03A1Y image sensor is being integrated into the latter’s Mal-C71 image signal processor (ISP), so that a dual-mode camera module for automobiles can be created.

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How is Expanding E-Commerce Industry Driving Autonomous Mobile Robots Market?

The e-commerce industry is expanding due to the increasing internet penetration and surging usage of smartphones, which is why the trend of online shopping among customers has emerged. It has been observed that the global e-commerce sales rose by approximately 22% in 2018, as compared to the previous year. 

This rising e-commerce sales, primarily in India and China, has resulted in the growing requirement for enhanced efficiency in e-commerce fulfillment centers and warehouses. Attributed to these factors, the demand for autonomous mobile robots (AMRs) in the e-commerce industry is rising for improving productivity and reducing labor cost.

AMRs are robots which utilize sensors and navigation technology to move around the environment without being controlled directly by operators. According to a report by P&S Intelligence, in 2019, the global autonomousmobile robots market reached a value of $29.3 billion and is expected to generate $220.6 billion in 2030, advancing at a 18.3% CAGR during the forecast period (2020–2030). 

Service, software, and robotic systems are offered by this technology. Out of these, AMR services were the most in demand during 2014–2019 and the situation is projected to be the same in the coming years well. The service category includes the revenue that is generated from the sale of aftermarket components, consulting services, and deployment/integration of AMRs.

There are various sectors which make use of AMRs, namely hospitality, healthcare, manufacturing, retail, logistics, residential, aerospace & defense, mining & mineral, and agriculture. Other sectors which make use of AMRs are construction, IT & telecom, government, utilities, banking, financial services, & insurance, oil & gas, media & entertainment, automotive, and education. 

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Chinese Vacuum Pump Market a $1.9 Billion Investment Opportunity by 2024

Momentum-transfer, positive-displacement, and regenerative are the three major types of such devices. Positive-displacement vacuum pumps further come in the diaphragm, rotary-vane, piston-pump, liquid-ring, and dry-screw types.

Among these, liquid-ring-type positive-displacement pumps saw the highest usage during 2014–2018, as these can be used for different gases, by altering the discharge temperature, thereby offering more flexibility. The major applications of such devices are vacuum condensation, vacuum distillation, ash and air handling, moisture extraction, and mineral beneficiation, in an array of industries, including oil & gas, petrochemical, chemical, seawater deaeration, distillery, fertilizer, pharmaceutical, sugar, paper, railways, power, food & beverage, textile, and mineral.

A key vacuum pump market in China opportunity is the development of smart vacuum pumps. With the use of the frequency inverter technology, they work with a range of voltages and frequencies, to offer optimal and consistent performance.

Among these, the use of vacuum pumps in the chemical & pharmaceutical sectors is significant. Here, such equipment is primarily used for distillation, drying, filtration, solvent recovery, crystallization, and gas boosting, apart from the degassing of oils, glues, polymers, and water.

In 2018, China was the largest producer of chemicals and also their largest user, holding a 37.0% share of the global chemical sales. The major reasons for the growth of the chemical sector in the country are the easy availability of labor and raw materials at low costs, government subsidies, and relaxed environmental norms.

Similarly, the national pharmaceutical sector is prospering, on account of the rising investments in research and development and setting up of production plants by global industry giants.

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With the growing burden of several diseases, which is leading to the expansion of the overall healthcare niche, the demand for pharmaceutical products is increasing. This is why of all the application areas of vacuum pumps — semiconductor & electronics, chemical & pharmaceutical, mining & general, food & beverages, oil & gas, and energy & power — chemical & pharmaceutical was their largest user during the historical period.

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India Electric Rickshaw Motor and Controller Market Share, Development, Growth, and Demand Forecast till 2024

The number of electric rickshaws on Indian roads is increasing rapidly, which is why the electric rickshaw market in India advanced at a rate of 59.1% during 2014–2018. This is attributed to the supportive government incentives, low operating cost of electric rickshaws as compared to auto rickshaws, and other advantages it provides over cycle rickshaw. The number of electric rickshaws on the roads increased to approximately 7.5 lakh, which was an increment of about 6.2 lakh units from 2014, and this number is further predicted to rise in the coming years. Ascribed to this, the demand for electric rickshaw motor and controller is rising in the country.

Electric motor converts electrical energy into mechanical energy and a motor controller regulates the working of an electric motor and acts as an intermediary between the battery and the motor. According to a report by P&S Intelligence, by 2024, the Indian electric rickshaw motor market is predicted to attain a value of $59.8 million, registering a 15.1% CAGR during the forecast period (2019–2024), and the Indian electric rickshaw controller market is expected to generate a revenue of $26.2 million by 2024, witnessing a 14.4% CAGR during the forecast period. Original equipment manufacturers and aftermarket are the two end users of electric rickshaw motors and controllers.  

The increase in the average age of electric rickshaws is a major factor which is contributing to the rising demand for electric rickshaw motor and controller. The market of electric rickshaws has been consolidated since the rollout of goods and service tax, because of which issues about customer services have resulted in a sense of distrust among customers toward unorganized players. Attributed to this, consumers have become inclined toward more reliable products offered by established multi national companies and Indian manufacturers. The electric rickshaws offered by these organized manufacturers have an average age of about 3.6 years.

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The research offers the size of the India electric rickshaw motor and controller market for the period 2014–2024.

Market Segmentation by Vehicle

·         Battery Rickshaw

·         E-Auto

·         Retrofitted Rickshaw

Market Segmentation by Motor Power

·         <800 W

·         800–1,000 W

·         1,001–1,500 W

·         1,501–2,000 W

·         >2,000 W

Market Segmentation by End Use

·         Original Equipment Manufacturer (OEM)

·         Aftermarket

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