Global Gas Sensors Market to Rise to US$2328.3 mn by 2018 as Workplace Safety Regulations Become Stringent Globally

The global gas sensors market has witnessed a massive rise in competition among manufacturers and innovators in the recent years owing to dropping costs of raw materials and manufacturing processes, observes Transparency Market Research in a recent report. The presence of a large set of small and large gas sensor companies in the global marketplace has rendered the vendor landscape fragmented and further competitive. To stand out from peers, companies have focused their research efforts towards the development of new and more effective varieties of sensors and more effective techniques for fabricating gas sensors.

Some of the leading companies in the market are Dragerwerk AG & Co. KGaA, Robert Bosch, LLC, Nemoto & Co., Ltd., Aeroqual Ltd., GfG Europe Ltd, Dynament Ltd, Figaro Engineering Inc., and Trolex Ltd, ABB Ltd.

According to the report, the global gas sensors market is estimated to exhibit a healthy 5.7% CAGR from 2012 to 2018, rising to a revenue opportunity of US$2328.3 mn by 2018.

Europe Accounts for Dominant Share in Overall Market

In terms of technology, the segments of electrochemical and semiconductor gas sensors collectively accounted for a share of over 35% of the overall market. The high efficiency and low cost of sensors based on these technologies are the key forces attributable to their high consumption. From a geographical perspective, the market in Europe currently ranks as the leading revenue contributor to the global market owing to stringent employee safety regulations in the region and the advanced industrial sector.

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Increased Focus on Employee Safety to Help Market Pick Pace

Areas that are at a potential risk of harm from fatal gases are largely dependent on the reliability and efficiency of the gas leak detector systems and the sensors used in them. Of late, stringent government regulations regarding the safety of workers at workplaces, especially in oil, gas and chemical industries, and occupational health and the rise in investment in these industries have led to an increased demand for gas sensors. Moreover, the market benefits from the commonplace and widespread applications of gas sensors across a number of other industries, wherein advanced gas sensors are becoming the key to effective safety mechanism of a vicinity or plant.

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Electronic Access Control Systems Market to Grow at Stellar 12.6% CAGR Owing to Demand for Better Security

The global electronic access control systems market depicts the existence of a highly fragmented vendor landscape owing to the presence of innumerable players. This has given rise to an intensified competition present between many players in this market. With new players entering this landscape on a regular basis, the global electronic access control systems market is expected to witness a highly intensified competition during the forthcoming years.

Most players are expected to expand their businesses by focusing on product diversification and development, consequently making them capture leading market shares. Expansion in emerging economies to boost growth and products’ sales also is a prime strategy implemented by most players operating in the global electronic access control systems market. This is mainly due to the untapped potential present in the emerging economies in terms of product selling and revenue generation.

Cisco Systems, Inc., Godrej Industries Limited, Tyco International Ltd., United Technologies Corporation. Honeywell International Inc., Panasonic Corporation, 3M Cogent, Inc., Safran SA., Everspring Industry Co., Ltd., Digital Persona, Inc., Magal Security Systems Ltd., Hitachi Ltd., and Siemens AG., are key companies operating in the global electronic access control systems market.

According to experts from Transparency Market Research, the global electronic access control systems market is expected to fetch revenue worth US$31.188 bn by the end of 2019, which depicts a spectacular growth to occur after accumulating revenue worth US$15.406 bn registered in 2014. This growth is projected to occur at a stellar CAGR of 12.6% during the forecast period from 2014 to 2019.

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Rising Cases of Violence Boost the Need for Electronic Security

Growing concerns about the rate at which criminal activities and terror attacks are rising, especially on the public and government locations, are primarily driving the global electronic access control systems market. This is majorly owing to extensive security provided by the control systems by setting up barriers to unauthorized public through electronic means.

To tackle vandalism, fraudulence, illegal immigration, and other similar activities, most governmental offices and several private enterprises set up the electronic access control systems. Thus, a dire need for high security from violent societal elements that can disrupt harmony and peace in particular establishments is inducing the global electronic access control systems market to expand spectacularly. With a surge occurring in the construction of roads, residential and commercial buildings, the need for electronic access control systems has tremendously increased. Lastly, widespread advancements in mobile devices and sensor technologies has led to a shift in the perspective of potential customers to adopt quality biometric systems and other electronic access systems.

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Global Surge Protection Devices Market-Increased Uptake of Consumer Electronics Globally

The vendor landscape of the global market for surge protection devices has been rendered largely fragmented and competitive owing to the presence of a large number of product manufacturers, notes Transparency Market Research in a recent report. The market has witnessed increased efforts from leading vendors towards the introduction of innovative and more advanced product varieties and expansion across emerging regional markets and application areas. Moreover, funds diverted towards R&D efforts have also seen a significant surge in the recent years. Some of the leading companies in the market are Emerson Electric Co., Schneider Electric S.E., Raycap Corporation S.A., Eaton Corp. PLC., GE Industrial Solutions, Tripp-Lite, and ERICO International Corporation.

According to the report, the global surge protection devices market is likely to exhibit a promising CAGR of 5.6% from 2014 to 2020, rising to a revenue opportunity of US$2,808.6 mn by 2020.

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Industrial Sector to Remain Leading Consumer of Surge Protection Devices

Of the key applications of surge protection devices covered in the report, applications across the industrial segment accounted for a dominant share in the overall market in 2014, valuing at US$763.2 mn in the same year. This can be attributed to the steady pace of industrialization in regions such as Asia Pacific and Middle East and Africa where the uptake of automation technologies in manufacturing and processing sectors is high.

Geographically, the market in North America held the dominant share in the overall market, thanks to the rising sales of electrical and electronic devices in the industrial and residential sectors in the region. The region is likely to retain its dominance over the forecast period in terms of revenue contribution to the global market, despite it being predicted to register the lowest CAGR over the forecast period among all the regional markets examined in the report.

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FPGA Market- The Growing Penetration Of Smartphones Across The World Translates To A Positive Outlook

The growing penetration of smartphones across the world translates to a positive outlook for the global field programmable gate array (FPGA) market. Transparency Market Research’s latest report states that the global FPGA market will report promising expansion with a CAGR of 8.6% between 2014 and 2020. TMR’s analysis puts the value of the global FPGA market at US$5,487.2 million as of 2013, and pegs the market to stand at US$9,734.4 million by 2020. The report published by TMR is titled ‘FPGA Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014–2020.’Traditionally, the design of FPGAs was not heavily determined by the price of smartphones or the amount of power they consume.

The competitive electronics market has changed that. Smartphones, one of the fastest-growing markets in the consumer electronics industry, need to be feature-packed without guzzling power. At the same time, the cost factor is a crucial aspect that influences purchase decisions in the market. Consequently, FPGAs are now targeted toward inexpensive and power-sensitive handheld devices and smartphones.

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Based on recent trends, TMR analysts predict that smartphones will play a central role in the global FPGA market. FPGAs, thanks to their built-in RAM, are able to perform functions such as image enhancements and signal processing – these are collectively referred to as digital signal processing (DSP) functions.As people consume more digital content, the demand for bandwidth has reported an unprecedented increase. This is yet another factor that will have a positive bearing on the growth of the global FPGA market. Higher the demand for faster processing speed in the smartphone and tablets markets, the greater will be the scope for the expansion of the FPGA market.

The report segments the global FPGA market based on technology as: Flash-based, static random-access memory (SRAM), and antifuse. In 2013, the largest share of the FPGA market was held by SRAM. This segment is projected to stay firmly in the leading position to 2020. The preference for SRAM-based FPGA arises due to its rapid in-circuit reconfiguration. FPGAs based on SRAM also show higher tolerance to radiation – an attribute that makes them highly suited in aerospace applications. Aerospace and ancillary industries are predicted to make extensive use of FPGAs for imaging and in wireless sensors.For a clear picture of the regional markets and their performance over the next five years, the report segments the global FPGA market into: North America, Asia Pacific, Europe, and Rest of the World.

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In 2013, Asia Pacific was seen as the most dominant region in the global FPGA market.  The dominance of the Asia Pacific region can be ascribed to the strong electronics industry in countries such as South Korea, China, and India. The report also carries a Company Profiles section that features leading FPGA market players such as Tabula, Lattice Semiconductor Corporation, Xilinix, Microsemi Corporation, Altera Corporation, and others.

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Global Temperature Sensor Market : Modernization of Healthcare in Emerging Economies to Help Market Gain Traction

Amidst a high degree of fragmentation and intense competition, top six players in the temperature sensors market held mere 19% share in the overall market, finds Transparency Market Research (TMR) in a new report. As the market suffers from lack of differentiating attributes in key products, this has given rise to price-wars among market participants for greater share. In this competitive market, leading vendors are vying to consolidate the vendor landscape and are proactively engaging in strategic collaborations.

Some leading participants in the global temperature sensor market are ST Microelectronics N.V., Panasonic Corp., Infineon Technologies AG, Honeywell International Inc., General Electric Co., and Texas Instruments Inc.

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As per the TMR report, the global temperature sensor market will expand at a steady 4.6% CAGR over the 2016-2024 forecast period. At this pace, the market which stood at US$4.6 bn in 2015 will become US$6.6 bn by 2024. Vis-à-vis volume, the market is anticipated to exceed 2.93 bn units by 2024. Among the key product types being purveyed in the market, which includes thermistors, resistance temperature detectors, bimetallic temperature sensors, thermocouple, infrared temperature sensors, and fiber optic temperature sensors, thermistors account for grossing maximum revenue in the recent years. Going ahead too, the segment is poised to continue to remain at the fore. However, infrared temperature sensors is likely to witness a high growth rate vis-à-vis revenue due to their rising applications across several industry verticals.

Geographically, North America is presently the dominant regional market. This is mainly because of increasing adoption of temperature sensors across the medical, oil and gas, and healthcare sectors.

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Flourishing Consumer Electronics to Present Attractive Opportunities

According to the report, majorly fuelling the global temperature sensor market is increasing bend of key industries towards non-contact sensors, vast rise in demand from flourishing consumer electronics industry, along with increasing number of applications. Among these, consumer electronics is predicted to provide attractive growth opportunities to the temperature sensor market. The soaring demand for mobile phones, wearable devices, laptops, LCDs, and fitness bands is acting in favor of the temperature sensor market, says the report.

The modernization of the medical and healthcare sector is a key factor fuelling the global temperature sensor market. Several governments especially in developed nations are taking initiatives to provide comprehensive healthcare at each and every healthcare facility be it in the remotest region of the nation.

Electronic Equipment Repair Service Market is Driven Due To Continuous Innovations And Technological Advancements

According to a new market report published by Transparency Market Research titled ‘Electronic Equipment Repair Service – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 – 2026,’ the global electronic equipment repair service market is expected to reach US$ 162.39 Bn by 2026, expanding at a CAGR of 8.1% from 2018 to 2026. Europe held a prominent share of the electronic equipment repair service market in 2017.

The adoption of electronic equipment has increased across the region due to continuous innovations and technological advancements in electronic equipment technologies. Electronic equipment such as consumer electronics, home appliances, medical equipment, and industrial equipment require maintenance and servicing to lengthen their life. This is expected to drive the electronic equipment repair service market during the forecast period. Moreover, rise in demand for refurbished electronic equipment in developing regions is a major factor that is expected to boost the electronic equipment repair market in the coming years. All these factors are anticipated to drive the electronic equipment repair service market during the forecast period.

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However, a shift in consumer behavior toward purchasing new products and poor-quality or duplicate spare parts are expected to hamper the expansion of the electronic equipment repair service market during the forecast period.

The consumer electronics segment is expected to expand at a rapid CAGR as consumers are more likely to repair or refurbish their current devices instead of investing in new equipment. This is anticipated to fuel the expansion of the electronic equipment repair service market in the coming years. Under the consumer electronics segment, the smart phone & mobile phones sub-segment holds a major share of the market, followed by the television and others segments (music players, routers, etc.). Increased dependence of modern day individuals on the Internet in everyday life has created a need for portable connected devices that allow access to the Internet anywhere and everywhere. In that respect, smartphones offer Internet connectivity on-the-go along with the advantages of traditional mobile phones or feature phones. Owing to these factors, the smartphones and mobile phone segment is expected to maintain its market share during the forecast period.

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Enhanced Features of Chatbots to Aid Employment across Several Enterprises

A chatbot refers to an artificial intelligent robot which has been designed to interact or communicate with humans through auditory or textual methods, basically over the internet. It is a computer based software that enables conversation between machine and human via artificial intelligence. A chatbot is programmed and designed to support text, speech recognition, and animation to provide a virtual user interface. Chatbots employ natural language processors to encourage a conversation with the user leading to an enhanced customer experience in applications such as healthcare, retail, and e-commerce. These chatting robots may be accessed via several platforms such as computers, smartphones, social networking websites, and hypertext markup language (HTML) pages. They can interact with their users using several languages and graphical designs and format based on the application of the end user such as a 3D animated creature, animal, or a cartoon character. 

According to a report published by Transparency Market Research, the global chatbot market is expected to witness an outstanding 27.8% CAGR between 2016 and 2024. In 2015, the market was valued at US$113.0 mn and is projected to rise to a valuation of US$994.5 mn by the end of 2024. 

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How are large enterprises efficiently utilizing the features of the chatbots?

The global chatbot market can be simplified into two simple segments according to the size of the organizations that use them. The medium and small enterprises are dwarfed by the growing utility of chatbots in large enterprises. Large enterprises regularly employ chatbots for customer engagement procedures and promotional activities. The extensive use of chatbots helps these enterprises to expand their consumer pool and lift their promotional rate. Over the coming years, the large enterprise’s segment is expected to lead the global chatbot market in terms of revenue. 

These enterprises are also likely to benefit from the automation of business process that chatbots are likely to bring into function, thus further increasing their involvement in social media and improving the marketing of their products. Thus, leading companies are also introducing new robots to fulfill the consumer demands. For instance, recently Microsoft released another experimental chatbot known as Zo. It was released on the social app Kik. 

How is the shortfall in the capabilities of chatbot likely to act as a hindrance in the growth of the market?

The primary factor that is expected to hinder the growth of the global chatbot market is the improving capabilities of chatbots as compared to the fields it can be employed in. Although, voice messaging and text messaging are accepted across several industries, there are certain issues that still need to be addressed such as integration, security, monitoring, and chatbot management. 

Which region should be the main focus for the chatbot manufacturers?

Among all the regions of the global chatbot market, North America led the market in 2015 with a valuation of US$52.7 mn and is expected to continue its domination over the market until 2024. The growing innovation in chatbot and advancement in robot technology along with demand for easy services are the primary factors driving the growth of the market. However, Asia Pacific is also expected to exhibit significant growth over the forthcoming years.