U.S. Frozen Dessert Market Size Is Expected To Reach USD 82.00 Billion by 2028| CAGR: 5.7%

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The U.S. market for frozen desserts is driven by the rising demand for low-sugar and low-calorie desserts domestically. Consumers are becoming increasingly concerned about their health but also crave to try out new delicacies. Rising consumer spending on these desserts and the development of new products have been the key driving factors for the industry’s growth in the past few years. With the shift in trend from desserts such as ice cream post-dinner or lunch toward frozen desserts, these desserts have paved their way into the market, replacing traditional desserts with a lower shelf life.

 

Volumetric Display Market Trends, Demand, Production, Analysis and Forecast to 2028: Grand View Research Inc.

 Volumetric Display Market Growth & Trends

The global volumetric display market size is expected to reach USD 1.05 billion by 2028, according to a new study by Grand View Research, Inc. It is expected to expand at a CAGR of 25.8% from 2021 to 2028. Several in-built features such as visualization of holographic aerial images in free space, 360-degree spherical viewing angle, autostereoscopic capabilities, and motion-based depth cues are likely to drive the market over the forecast period.

Volumetric displays are widely preferred across several industries such as military and defense, healthcare, media, communication, entertainment, and aerospace owing to their built-in features. Massive investments in R&D by prominent market players such as LightSpace Technologies Inc. are estimated to create a significant opportunity for players to gain a substantial market share over the coming years. Moreover, these investments are majorly focused on improving overall in-built features of volumetric displays, which will cater to growing consumer demand for enhanced visual experiences during gaming and other applications. Robust deployment of 5G network infrastructure is further anticipated to spur the adoption of volumetric displays to provide seamless connectivity and enhanced experience to customers during video calls.

Advances in medical imaging technologies for more accurate diagnosis is expected to offer avenues for the market from 2019 to 2025. Use of volumetric displays in medical imaging applications to create real-time visualization of medical images enables a comprehensive acceptance of the technology across the industry. These are also used in several defense applications, such as visual representation of data related to situational awareness across the sea, space, land, and cyber space during simulation and training. Rapidly increasing defense spending for technological advancements in key countries such as U.S. and China, is also expected to propel the market growth over the forecast period.

However, the technology has not yet reached maturity. Thus, it offers considerable potential and scope for further development and innovation in order to be accepted and adopted by consumers on a much larger scale. Industry players have been focusing on organic growth strategies such as R&D investments, collaborations, and value-added features to expand their overall product portfolios. These strategies help players gain a larger share in the market. Thus, key market players such as Voxon Photonics are actively investing in increasing production to fulfill the demand among consumers for various applications such as advertisement and marketing as well as education and design.

Additionally, key market players are focusing on establishing partnerships and agreements with investors in order to raise funding to expand their market presence. However, high manufacturing costs owing to the intricate design of the product is expected to hinder the overall market growth in the coming years.

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Volumetric Display Market Report Highlights

• By type, the static volume segment captured the major market share in 2018 owing to its features such as aerial images in free space, 360-degree spherical viewing angle, and motion-based depth cues
• The swept volume segment is expected to witness rapid growth owing to significant investments by market players to develop advanced products within this category
• In 2018, the medical segment attained a market size of around USD 50.0 million and is estimated to register substantial growth owing to increasing adoption of this technology in healthcare for viewing 3D imaging by extracting stored data from Magnetic resonance imaging (MRI), Computed tomography (CT), and other systems
• North America accounted for the largest share in the global volumetric display market and is anticipated to exhibit the highest CAGR of more than 30.0% over the forecast period. The growth is due to rapidly increasing defense and healthcare spending to deploy modern technologies to obtain improved visualization during critical situations
• Companies are aggressively investing in R&D to develop new products with enhanced features to strengthen their market position and enhance their product portfolio
• Key players in the market include Lightspace Technologies Inc.; Voxon Photonics Pty Ltd.; The Coretec Group Inc.; and Holoxica Ltd.

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Volumetric Display Market Segmentation

Grand View Research has segmented the global volumetric display market based on display type, end use, and region:

Volumetric Display Display Type Outlook (Revenue, USD Million, 2017 - 2028)

• Static-volume display
• Swept-volume display

Volumetric Display End-use Outlook (Revenue, USD Million, 2017 - 2028)

• Medical
• Aerospace & Defense
• Automotive
• Media, Communication, & Entertainment
• Education & Training
• Others (Oil & Gas, Mining, etc.)

Volumetric Display Regional Outlook (Revenue, USD Million, 2017 - 2028)

• North America
  • US.
  • Canada
• Europe
  • UK.
  • Germany
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
• Rest of the World

List of Key Players of Volumetric Display Market

• Lightspace Technologies Inc.
• Voxon Photonics Pty Ltd.
• The Coretec Group Inc.
• Holoxica Ltd.
• Alioscopy
• Leia, Inc
• Looking Glass Factory, Inc.
• SeeReal Technologies GmbH
• The Coretec Group, Inc.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Electric Powertrain Market Set to Surge Significantly During 2021-2028: Grand View Research Inc.

 Electric Powertrain Market Growth & Trends

The global electric powertrain market size is expected to reach USD 654.95 billion by 2028, registering a CAGR of 33.5% over the forecast period, according to a new report by Grand View Research, Inc. The market for pure electric and plug-in hybrid vehicles has been growing significantly, in turn, creating an increasing demand for automotive electric powertrains. Governments in various countries are taking initiatives to promote the development of Electric Vehicles (EVs). For instance, in 2020, the U.S. Department of Energy announced a public investment of USD 400 billion in clean energy. The investment would help develop 500,000 charging outlets for electric vehicles by the end of 2030.

The rising sales of EVs have propelled prominent automotive component manufacturers to aggressively focus on developing essential EV components to gain a competitive edge. Prominent manufacturers in the market are primarily focusing on enhancing their facilities in countries, such as China and the U.S. For instance, in February 2020, Nidec Corporation invested around USD 1.8 billion to expand its EV powertrain business. The company’s three new facilities located in Poland, China, and Mexico would deliver up to 8.4 million electric motors every year.

Asia Pacific is projected to grow at a substantial CAGR over the forecast period owing to the increase in demand for EVs and the rise in the per capita income of people. Countries, such as China, South Korea, and India, are among the prominent manufacturers of automobiles. Stringent government regulations and emission norms, including BS-VI in India, are also expected to contribute to the growth of the Asia Pacific market. However, the COVID-19 pandemic has interrupted the ten consecutive years of robust growth of EVs, mainly impacting sales in countries, such as China. With factory shutdowns, declining vehicle sales, and decreasing use of public transit, the automotive supply chains have been heavily disrupted by the pandemic. Europe is a crucial market for electric powertrains and holds a substantial share of automotive production. Countries, such as Finland, Norway, Sweden, and the Netherlands, have the highest adoption rate of EVs in the world. This, along with the presence of several automotive OEMs, is estimated to drive market growth in Europe.

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Electric Powertrain Market Report Highlights

• The motor/generator component segment is anticipated to witness the fastest CAGR from 2021 to 2028
• The growth is credited to the increasing penetration of BEVs and PHEVs across the globe
• The HEV/PHEV segment is anticipated to witness the highest CAGR exceeding 36% over the forecast period
• This growth can be attributed to the charging flexibility benefits offered by these vehicles
• Asia Pacific is expected to expand at a high CAGR of more than 34% over the forecast period
• The regional market is driven by the increasing adoption of EVs in countries, such as China and India

Access Press Release@ https://www.grandviewresearch.com/press-release/global-electric-powertrain-market

Electric Powertrain Market Segmentation

Grand View Research has segmented the global electric powertrain market on the basis of electric vehicle, component, and region:

Electric Powertrain EV Outlook (Volume, Units; Revenue, USD Billion, 2016 - 2028)

• BEV
• HEV/PHEV

BEV Electric Powertrain, By Component (Volume, Units; Revenue, USD Billion, 2016 - 2028)

• Motor/Generator
• Battery
• Power Electronics Controller
• Converter
• Transmission
• On-Board Charger

HEV/PHEV Electric Powertrain, By Component (Volume, Units; Revenue, USD Billion, 2016 - 2028)

• Motor/Generator
• Battery
• Power Electronics Controller
• Converter
• Transmission
• On-Board Charger

Electric Powertrain Regional Outlook (Volume, Units; Revenue, USD Billion, 2016 - 2028)

• North America
  • US.
  • Canada
• Europe
  • Germany
  • UK.
  • France
  • Norway
  • Sweden
• Asia Pacific
  • China
  • Japan
  • South Korea
• Rest of the World

List of Key Players of Electric Powertrain Market

• BorgWarner
• Bosch Ltd.
• Mitsubishi Electric Corp.
• Magna International Inc.
• Schaeffler AG
• ZF Friedrichshafen AG
• Valeo
• Nidec Corp.
• Continental AG
• Magneti Marelli CK Holdings

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

In-vehicle Payment Services Market Projected To Be Worth USD 12.16 Billion By 2028: Grand View Research Inc.

 In-vehicle Payment Services Market Growth & Trends

The global in-vehicle payment services market size is expected to reach USD 12.16 billion by 2028, registering a CAGR of 16.3% over the forecast period, according to a new report by Grand View Research, Inc. The increasing spending by automakers on enabling drivers to make payments and authenticate transactions from the vehicle itself coupled with the rising levels of disposable income, especially in the developed economies, and the growing preference for contactless payments are expected to drive the growth of the market over the forecast period. Busy schedules are prompting drivers to look forward to hassle-free experiences as part of an upgraded lifestyle.

At this juncture, the ability to shop, order, and pay on the go without performing any cash transactions for swiping credit/debit cards would allow commuters to save time and ensure a convenient commute. In-vehicle payment services offer drivers and passengers the convenience of making payments through various payment modes from the vehicle itself. The demand for these services is expected to increase over the forecast period in line with the proliferation of connected cars and the growing preference for advanced infotainment. Automakers, such as BMW AG, Mercedes-Benz, Ford Motor Co., Honda Motor Co. Ltd., General Motors Co., and Jaguar Land Rover Automotive PLC, have already started integrating in-vehicle payment services and solutions into their vehicle models.

Payment service providers, such as MasterCard, Visa, and PayPal, are also striking strategic partnerships and collaborations with automotive OEMs to deliver efficient in-vehicle payment platforms. The preference for contactless payments is growing due to the COVID-19 pandemic. As such, the majority of the parking systems, gas stations, and toll collection booths have already incorporated mobile payment technology. The popularity of e-wallets is rising owing to the convenience and ease of payment e-wallets can offer.

Digital wallet and online payment platforms, such as Google Pay, Amazon Pay, and Apple Pay, are also getting immensely popular and their adoption is expected to increase significantly over the forecast period. However, automotive OEMs are looking forward to designing and developing a payment ecosystem that would allow drivers and passengers to avail and pay for all the desired services, such as filling gasoline or charging electric cars, booking and paying for parking slots, paying tolls at toll booths, and ordering food and coffee, among others, without having to get out of the vehicle. Hence, the market is expected to grow significantly over the forecast period.

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In-vehicle Payment Services Market Report Highlights

• The global market was valued at USD 3,097.0 million in 2020 and is expected to register a CAGR of 16.3% from 2021 to 2028
• The credit/debit card segment dominated the market in 2020 and is estimated to generate a revenue of over USD 6,255.8 million by 2028
• North America accounted for the largest revenue share of the market in 2020 and will grow further at a steady CAGR retaining the leading position from 2021 to 2028
• Continued integration of the latest technologies in automobiles and the rising levels of disposable income are anticipated to drive the market growth in North America

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In-vehicle Payment Services Market Segmentation

Grand View Research has segmented the global in-vehicle payment services market on the basis of mode of payment, application, and region:

In-vehicle Payment Services Mode Of Payment Outlook (Revenue, USD Million, 2018 - 2028)

• NFC
• QR Code/RFID
• App/e-wallet
• Credit/Debit Card

In-vehicle Payment Services Application Outlook (Revenue, USD Million, 2018 - 2028)

• Parking
• Gas/Charging Stations
• Shopping
• Food/Coffee
• Toll Collection
• Others

In-vehicle Payment Services Regional Outlook (Revenue, USD Million, 2018 - 2028)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

List of Key Players of In-vehicle Payment Services Market

• BMW AG
• Daimler AG
• Ford Motor Co.
• General Motors Co.
• Honda Motor Co. Ltd.
• Hyundai Motor Co.
• Jaguar Land Rover Automotive PLC
• Volkswagen AG
• ZF Friedrichshafen AG
• Google
• Amazon
• Visa
• MasterCard
• PayPal

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Semi-trailer Market Size Is Anticipated To Reach USD 29.36 Billion by 2028

 Semi-trailer Market Growth & Trends

The global semi-trailer market size is anticipated to reach USD 29.36 billion by 2028, expanding at a CAGR of 5.8%, according to a new report by Grand View Research, Inc. Increasing demand across the construction, defense, automotive, and energy sectors is anticipated to be a key factor driving market growth. In addition, increasing dependence of e-commerce companies on third-party logistics (3PL) providers to ensure transportation of goods through hub and spoke distribution model is also expected to augment market growth in the coming years.

Furthermore, expanding cold chain and logistics industry is contributing significantly to the market growth. Less than truckload (LTL) and full truckload (FTL) freight shipping companies worldwide are increasingly adopting semi-trailers due to the versatility being offered in terms of load-carrying capacity. As compared to rigid trucks, semi-trailers offer the lowest cost of transportation per ton per km, which is further enhancing its adoption.

Over the last few years, the product demand has witnessed strong growth on account of positive growth observed in the oil & gas industry. In the coming years, the market is poised to register steady growth due to relaxation of regulations with respect to length and load-carrying capacity of semi-trailers. Government regulations supporting the introduction of lightweight and eco-friendly transport vehicles are expected to shape the future market demand. However, lack of proper infrastructure required for transportation, especially in emerging economies is hampering the semi-trailer market growth.

Manufacturers are increasingly incorporating advanced technologies such as driver assistance systems (DAS) and other connectivity solutions into their products to help their consumers (fleet operators/logistics service providers) enhance operational efficiency. Furthermore, growing preference for platooning and introduction of electric semi-trailer trucks are expected to create huge opportunities for the manufacturers in the coming years. Manufacturers are increasingly focusing on introducing lightweight transport vehicles through improved designs and lighter components to ensure greater productivity and payload.

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Semi-trailer Market Report Highlights

• The dry vans segment is expected to witness a revenue-based CAGR of more than 4.0% due to growth in the retail and fast-moving consumable goods (FMCG) industry, especially in the developing economies
• The Asia Pacific market is expected to witness substantial growth owing to improving road infrastructure and anticipated growth in the automobile industry. Automotive companies are manufacturing many cars and two-wheelers which are being transported through semi-trailers to end-consumers
• The market is highly consolidated with the presence of established players such as Wabash National Corporation, Schmitz Cargobull, Great Dane, and Kogel Trailer GmbH
• Players are focusing on R&D investments, acquisitions and mergers, and product innovation in order to strengthen their market presence. For instance, in 2017 Wabash National Corporation entered into a definitive agreement to acquire Supreme Industries, Inc. to enhance its market presence in dry vans.

Access Press Release@ https://www.grandviewresearch.com/press-release/global-semi-trailer-market

Semi-trailer Market Segmentation

Grand View Research has segmented the global semi-trailer market based on type and region:

Semi-trailer Type Outlook (Volume, ‘000 Units; Revenue, USD Million, 2016 - 2028)

• Flat Bed Trailer
• Dry Vans
• Refrigerated Trailers
• Lowboy Trailers
• Tankers
• Others

Semi-trailer Regional Outlook (Volume, ‘000 Units; Revenue, USD Million, 2016 - 2028)

• North America
  • US.
  • Canada
• Europe
  • Germany
  • UK.
  • France
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa (MEA)

List of Key Players of Semi-trailer Market

• China International Marine Containers (Group) Ltd.
• Fontaine Commercial Trailer, Inc.
• Great Dane
• Kogel Trailer GmbH & Co.KG
• Krone Commercial Vehicle Group
• Lamberet SAS
• Polar Tank Trailer, LLC
• Schmitz Cargobull
• Utility Trailer Manufacturing Company
• Wabash National Corporation
• HYUNDAI TRANSLEAD

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Attractive Market Opportunities in the True Wireless Stereo Earbuds Market by 2028: Grand View Research Inc.

 True Wireless Stereo Earbuds Market Growth & Trends

The global true wireless stereo earbuds market demand is expected to reach USD 305,499.8 million by 2028, registering a CAGR of 36.1% from 2021 to 2028, according to a study conducted by Grand View Research, Inc. The proliferation of connected devices at affordable prices is expected to favor true wireless stereo (TWS) earbuds market growth. Manufacturers are focused on introducing earbuds with multiple pair points to enable users to connect with multiple devices. As such, TWS earbuds are gradually gaining popularity as a convenient smartphone accessory. The wire-free and sophisticated design of these earbuds acts as the key purchase motivator for consumers

Moreover, the work-from-home norms imposed during the COVID-19 pandemic have accelerated the demand for IT accessories, including wireless earbuds. These devices can easily be used for listening to music or attending work-related con-calls. Besides features, such as Advanced Noise Cancellation (ANC) and wireless connectivity, TWS earbuds also come with a built-in carry case charger that offers seamless usage for over 150 hours. Furthermore, instant pairing across a variety of devices using Bluetooth, IPX7 certification, and support of voice assistants, such as Google and Siri, are also contributing to the market growth.

The rising demand for new and improved features serves as a catalyst for advancements in the market. Companies focus on launching products with differentiated features under various price bands. Multi-functional TWS earbuds are widely demanded as they cater to different applications, such as fitness, gaming, and entertainment, and offer extended capabilities, including fitness tracking and voice recognition. Moreover, several Chinese vendors, such as Xiaomi and Realme, have introduced entry-level wireless earbuds in the APAC market, making them an affordable choice for all consumers. The demand is expected to remain bullish over the next few years.

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True Wireless Stereo Earbuds Market Report Highlights

• The USD 100–199 price band segment led the global market in 2020 and is projected to expand further at a steady CAGR over the forecast period
• The proliferation of entry-level devices is expected to play a pivotal role in favoring the segment growth
• North America led the largest revenue share of more than 37% due to early technology adoption and high attention toward health & fitness amid the pandemic have been instrumental in driving the market growth in this region
• However, in terms of unit shipments, the demand for wireless earbuds in Asia Pacific surpassed the demand in North America in 2018
• Aggressive pricing strategies employed by Chinese vendors contributed to the large share of the regional market

Access Press Release@ https://www.grandviewresearch.com/press-release/global-true-wireless-stereo-earbuds-market

True Wireless Stereo Earbuds Market Segmentation

Grand View Research has segmented the global true wireless stereo earbuds market on the basis of price band and region:

True Wireless Stereo Earbuds Price Band Outlook (Volume, Million Units; Revenue, USD Million, 2018 - 2028)

• Below USD 100
• USD 100-199
• Over USD 200

True Wireless Stereo Earbuds Regional Outlook (Volume, Million Units; Revenue, USD Million, 2018 - 2028)

• North America
  • US.
  • Canada
• Europe
  • UK.
  • Germany
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Greater China
  • India
  • Japan
  • South Korea
  • SEA
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa

List of Key Players of True Wireless Stereo Earbuds Market

• Apple, Inc.
• Bose Corp.
• Jabra
• Harman International Industries, Inc.
• Sony Corp.
• Sennheiser Electronic GmbH & Co.
• Xiaomi

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Virtual Reality: Another World Within Sight

 

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Virtual Reality (VR) is a digitally created experience where a three-dimensional environment is simulated with the real-world. The technology offers an immersive experience to the viewers with the help of VR devices, such as headsets or glasses, gloves, and bodysuits. The technology has brought a transformation in the gaming and entertainment industries by allowing users to experience immersion in a highly virtual realm. In addition, the increasing usage of this technology in instructive training, such as for training mechanics, engineers, pilots, soldiers in defense, field workers, and technicians, in the oil & gas and manufacturing sectors is driving the market growth.

Facade : Saves Cost

 

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Modernization and urbanization are playing a vital role in the growth of the market. Several factors including waterproofing, fabrication, durability, and resistance to extreme climate come to play during the construction of facades. Changing perceptions of consumers and increasing focus on the exterior appearance of a building are anticipated to boost the growth of the market. Rising disposable income is leading to increased investments in renovations, which, in turn, is estimated to augment the market growth. Growing investments in the advancement of the residential and commercial construction industries in developed countries, such as the U.S., can stoke the growth of the market.

Warehouse Management: A Complete Guide for Retailers

 

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Growing application sectors, such as healthcare, manufacturing, and retail, across the globe are projected to drive the demand for warehouse management systems (WMS) for efficient operations to increase their output and meet rising consumer demand. In an attempt to address growing demands, logistics companies are continuously progressing to overcome challenges created by fluctuating product markets and shipping schedules. A WMS helps reduce lead time, increase product delivery speed, and minimize distribution costs. The software is designed to cater to complex, sophisticated warehouse operations as well as to tackle less complex resource-constrained operations.

Food Service Equipment Market Is Projected To Reach Approximately $50.01 Billion By 2028: Grand View Research Inc.

 

Know More- https://www.grandviewresearch.com/industry-analysis/food-service-equipment-market

Changing food consumption patterns, increased demand for takeaways, and the expanding hospitality sector are some of the key factors driving the market. Furthermore, factors such as increasing digitalization, the need for sustainable and eco-friendly equipment, and stringent consumer safety norms are expected to create promising growth opportunities for the market in near future. The market has rapidly evolved in accordance with the changing needs of clients for outfitting their kitchen spaces. Changing social customs, coupled with technological progressions, have created a dynamic marketplace for the equipment used in the end-use sector.

Benefits Of Interactive Kiosk

 

Know More- https://www.grandviewresearch.com/industry-analysis/interactive-kiosk-market

Due to the high development in payment and security technologies, the market has witnessed rapid growth over the past few years. Many of the self-service kiosk manufacturers will continue to extract these technologies' maximum potential and are expected to include them as an indispensable component of their product offering. Interactive kiosks help prevent long queues at public places, such as inquiry counters at railway stations, banks, and malls and check-in counters at airports. At places such as hospitals and government offices, interactive kiosks help reduce the paperwork associated with visitor data collection and enhance visitors' experiences.

Contactless Payment- Growing Customer Convenience for Low Value Payment

 

Know More- https://www.grandviewresearch.com/industry-analysis/contactless-payments-market

The growth can be attributed to the increasing adoption of digital payment platforms across the globe. Nowadays, customers are focusing on making seamless payments for many of their daily transactions. Moreover, increasing expectations for secure and integrated ways to pay for any service or product is expected to drive market growth. The growing convenience of the low-value payment offered by contactless payment solutions is anticipated to propel the market growth. 

Computer Vision Market Trends Analysis And Forecast Till 2028: Grand View Research Inc.

 Computer Vision Market Growth & Trends

The global computer vision market size is expected to reach USD 20.05 billion by 2028, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 7.3% from 2021 to 2028. This technology has emerged as an emulation of a human visual system to support the automation tasks that require visual cognition. However, the process of image deciphering is more complicated than analyzing data in a binary form due to the vast amount of multi-dimensional data in an image for analysis. Artificial neural networks and deep learning are being used to increase computer vision’s capabilities of replicating human vision, to address such complexity in developing AI systems to recognize visual data. Besides, this technology has become more adept at pattern recognition than the human visual cognitive system, with the advancements in deep learning techniques.

Also, different trends are emerging in the use of computer vision techniques and tools after the COVID-19 outbreak. It is being used for multiple purposes of fighting COVID-19, such as medical data monitoring to diagnose patients, and movement & traffic control in urban spaces, among others. For instance, Numina, a U.S.-based start-up that delivers real-time insights using computer vision for the development of sustainable cities, has developed a tool that enables the monitoring of social distancing in cities such as New York. Also, the tool built by Numina provides real-time insights on pedestrian movements to monitor how people are following social distancing guidelines (2-meter distance). For another instance, in December 2019, BlueDot, a Canadian start-up that provides an AI platform for infectious disease detection, predicted the coronavirus infections before the statement release by WHO (World Health Organization) for the pandemic. Therefore, from accelerated drug discovery to social distancing monitoring, AI-enabled with computer vision is at the forefront in the fight against this pandemic.

Several major players in the market have developed various platforms that can be used for data storage and analysis, using the application software. For instance, companies such as OMRON Corporation have developed various software for different applications such as automation, integration, communication, and control. Increasing adoption of various digital healthcare solutions to meet the sensitive regulatory requirements for patient safety is anticipated to drive the demand for vision systems over the forecast period. Less stringent government regulations and lower manufacturing cost in the Asia Pacific region has led major technology giants to establish manufacturing bases in the region, thus driving the regional industry. Major applications of machine vision are in the quality and inspection of the manufacturing industry. A boom in the manufacturing sector is anticipated to enhance the market demand for machine vision in the Asia Pacific region.

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Computer Vision Market Report Highlights

• Vision inspection solutions to food and beverages, pharmaceuticals, and automotive industries that provide vision systems for robotic vision and quality control are expected to be prevalent over the projected period
• Deep learning algorithms using CNN (Convolutional Neural Network) classifiers allow image classification and object/pattern recognition, and their segmentation at speed. The development of these AI-powered deep learning systems is anticipated to boost the computer vision market over the forecast period
• Facial recognition and biometric scanning systems in the security and surveillance industry are significantly driving the computer vision market, with the growing use of pattern recognition in high-confidentiality workplaces, such as research labs, nuclear power plants, and bank vaults
• Task automation in manufacturing units is one of the significant use-cases of computer vision technology, as machine vision is highly used for the inspection of manufactured products for non-conformities and defects
• The key players in the market are Intel Corporation; Texas Instruments Incorporated; Teledyne Optech; Teledyne Digital Imaging Inc.; Sony Semiconductor Solutions Corporation; National Instruments; Keyence Corporation; OMRON Corporation; Cognex Corporation; and Matterport, Inc.

Access Press Release@ https://www.grandviewresearch.com/press-release/global-computer-vision-market

Computer Vision Market Segmentation

Grand View Research has segmented the global computer vision market based on component, product type, application, vertical, and region:

Computer Vision Component Outlook (Revenue, USD Million, 2018 - 2028)

• Hardware
• Software

Computer Vision Product Type Outlook (Revenue, USD Million, 2018 - 2028)

• Smart Camera-Based Computer Vision System
• PC-Based Computer Vision System

Computer Vision Application Outlook (Revenue, USD Million, 2018 - 2028)

• Quality Assurance & Inspection
• Positioning & Guidance
• Measurement
• Identification
• Predictive Maintenance
• 3D Visualization & Interactive 3D Modeling

Computer Vision Vertical Outlook (Revenue, USD Million, 2018 - 2028)

• Industrial
• Non-Industrial

Computer Vision Regional Outlook (Revenue, USD Million, 2018 - 2028)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • UK.
  • Germany
  • France
• Asia Pacific
  • China
  • Japan
  • India
• South America
  • Brazil
• Middle East and Africa (MEA)

List of Key Players of Computer Vision Market

• Cognex Corporation
• Intel Corporation
• Keyence Corporation
• Matterport, Inc. 
• National Instruments
• OMRON Corporation
• Sony Semiconductor Solutions Corporation
• Teledyne Digital Imaging Inc. 
• Teledyne Optech
• Texas Instruments Incorporated

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Electric Vehicle Charging Infrastructure- Growing Concerns Over Carbon Emissions

Know More- https://www.grandviewresearch.com/industry-analysis/electric-vehicle-charger-and-charging-station-market

 The rising levels of carbon emissions and other harmful gases stemming from transportation have triggered the necessity of adopting EVs. As a result, the demand for an EV charging infrastructure among commercial and residential applications is rising. The technological progress of both EV charging software and hardware is expected to change the way EV owners use and benefit from EV charging applications. Technologies, such as Smartcar API and charging networks, precisely determine an EV’s charge time even before the car driver plugs the car into a station.

Electric Motor Sales- Growth of the Agriculture Sector

 

Know More- https://www.grandviewresearch.com/industry-analysis/electric-motor-market

An increase in awareness regarding green vehicles among customers has been a key factor driving the market. Besides this, a rising number of government incentives to encourage sales of green vehicles for safeguarding the environment from carbon emissions is expected to provide a fillip to the market. Electric motors have been observing several advancements in technology over the past few years, owing to which its demand is gaining traction. Additionally, the advent of better insulation materials has improved operational efficiency and the product's life, which has subsequently driven the market. The market is estimated to witness noteworthy growth over the forecast period owing to an increase in automobile production over the forecast period.