Engineering Services Outsourcing Market Overview, Analysis And Forecast To 2028: Grand View Research Inc.

 Engineering Services Outsourcing Market Growth & Trends

The global engineering services outsourcing market size is expected to reach USD 5.50 trillion by 2028, according to a new report by Grand View Research, Inc. The market is anticipated to register a CAGR of 22.9% from 2021 to 2028. The globalization of Research and Development (R&D), easy availability of low-cost labor and skilled professionals, and increasing adoption of information technology and smart technologies in various end-use industries are some of the factors that are expected to drive the growth of the market for engineering services outsourcing (ESO) over the forecast period.

The market has been evolving continuously in line with the advances in sensing, connected computing, artificial intelligence, and the internet of things (IoT), among other technologies. The intensifying competition to provide state-of-the-art solutions is prompting service providers to invest aggressively in R&D. Key ESO players are also putting a strong emphasis on Mergers and Acquisitions (M&A) and strengthening the existing tie-ups with their clients to tap new business opportunities. For instance, in November 2020, Tata Consultancy Services Limited, global IT services, and business solutions provider based in India announced an agreement to acquire 100% of the shares of Postbank Systems AG, one of the prominent IT service providers based in Germany, from Deutsche Bank AG. Tata Consultancy Services Limited already happens to be Deutsche Bank AG’s trusted IT service partner and the acquisition would deepen the partnership further while allowing the company to strengthen its operations in Germany.

The outbreak of the COVID-19 pandemic and the subsequent lockdowns implemented in various countries across the world at the beginning of 2020 to arrest the spread of the disease had a varying impact on the ESO market depending on the end-use industry. For instance, industries and industry verticals, such as automotive, and aerospace, among others, were adversely affected owing to the temporary shutdown of industrial facilities, production units, public transportation, and logistics operations. On the contrary, the pharmaceutical and healthcare industry was relatively unaffected as healthcare companies focused on the development of advanced personal protective equipment (PPE) and testing kits, while pharmaceutical companies embarked upon the development of COVID-19 vaccines.

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Engineering Services Outsourcing Market Report Highlights

• The designing segment is anticipated to register the highest CAGR of around 25.0% over the forecast period
• The industrial segment accounted for the largest revenue share in 2020 and is anticipated to continue dominating the market over the forecast period
• The Asia Pacific ESO market is expected to account for the largest revenue share of over 40.0% in 2020 owing to the easy availability of relatively low-cost and skilled resources in countries, such as India, China, the Philippines, and other East Asian countries

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Engineering Services Outsourcing Market Segmentation

Grand View Research has segmented the global engineering services outsourcing market based on services, location, application, and region:

Engineering Services Outsourcing Services Outlook (Revenue, USD Billion, 2016 - 2028)

• Designing
• Prototyping
• System Integration
• Testing
• Others

Engineering Services Outsourcing Location Outlook (Revenue, USD Billion, 2016 - 2028)

• Onshore
• Offshore

Engineering Services Outsourcing Application Outlook (Revenue, USD Billion, 2016 - 2028)

• Aerospace
• Automotive
• Industrial
• Consumer Electronics
• Semiconductors
• Healthcare
• Telecom
• Others

Engineering Services Outsourcing Region Outlook (Revenue, USD Billion, 2016 - 2028)

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

List of Key Players of Engineering Services Outsourcing Market

• Infosys Limited
• Tata Consultancy Services Limited
• ALTEN Group
• Altair Engineering, Inc.
• Boston Engineering Corporation
• Altran

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.

Commercial Drone Market Poised to Expand at a Robust Pace Over 2028: Grand View Research Inc.

 Commercial Drone Market Growth & Trends

The global commercial drone market size is anticipated to reach USD 501.4 billion by 2028, registering a CAGR of 57.5% from 2021 to 2028, according to a new report by Grand View Research, Inc. The rising demand for commercial drones can be attributed to the growing application base across a wide range of end-use verticals, including real estate and construction, media and entertainment, and agriculture. Majority of the end-use verticals that involve a high proportion of operational processes are expected to experience substantial productivity gains from drone usage owing to the automation of business operations.

UAVs or drones are reinventing old businesses and even creating new prospects. In 2016, the Federal Aviation Administration (FAA) released regulations related to the usage of commercial drones that clarified the legal landscape for businesses and workers. Since then, the industrial applications of commercial drones have significantly increased. Drones are expected to emerge as versatile tools, which can transform the existing business operations and help to establish new startups.

The prominent industry players are involved in the manufacturing as well as supply of accessories required for drone operation. Additionally, they provide applications for Android/iOS-based smartphones and tablets to efficiently operate and maneuver the drones during flight. These manufacturers offer drones for various verticals, such as security & law enforcement, energy, agricultural, retail, media, and entertainment.

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Commercial Drone Market Report Highlights

• The ability of drones to perform increasingly complex tasks is likely to improve with advancements in technologies such as collision avoidance and autonomy
• Commercial drones are anticipated to become a potential alternative for the logistics activities of companies, helping them increase their competitive advantage
• Drones are widely being used to inspect power plants, oil and gas, and other industrial sites to ensure proper operations and safeguard these sites
• Newer drone-supportive regulations are expected to lower the entry barriers for startups providing commercial operations of drones
• The advent of drones is set to transform the media industry as it allows the journalism sector to cover news in areas where human entry is prohibited

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Commercial Drone Market Segmentation

Grand View Research has segmented the global commercial drone market based on product, application, end-use, and region:

Commercial Drone Product Outlook (Volume, Thousand Units; Revenue, USD Million, 2016 - 2028)

• Fixed-wing
• Rotary Blade
• Hybrid

Commercial Drone Application Outlook (Revenue, USD Million, 2016 - 2028)

• Filming & Photography
• Inspection & Maintenance
• Mapping & Surveying
• Precision Agriculture
• Surveillance & Monitoring
• Others

Commercial Drone End-use Outlook (Revenue, USD Million, 2016 - 2028)

• Agriculture
• Delivery & Logistics
• Energy
• Media & Entertainment
• Real Estate & Construction
• Security & Law Enforcement
• Others

Commercial Drone Regional Outlook (Volume, Thousand Units; Revenue, USD Million, 2016 - 2028)

• North America
  • US.
  • Canada
• Europe
  • Germany
  • UK.
  • France
  • Italy
• Asia Pacific
  • China
  • Australia
  • Japan
  • South Korea
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa (MEA)
  • UAE
  • Israel
  • South Africa

List of Key Players in the Commercial Drone Market

• DJI
• Parrot Drones SAS
• YUNEEC
• 3D Robotics
• EHANG

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 Market is Poised to Exhibit A Moderate 18.0% CAGR through 2028: Grand View Research Inc.

 

Virtual Reality Market Growth & Trends

The global virtual reality market size is anticipated to reach USD 69.60 billion by 2028, according to the latest report by Grand View Research, Inc. The market is expected to record a CAGR of 18.0% from 2021 to 2028. Technological advancements in the past years have made it feasible to experience real-world life in a digitally immersive environment with Virtual Reality (VR) and Augmented Reality (AR). The Covid-19 pandemic has given a rapid rise to VR-enabled platforms and tools, especially in the education and e-commerce sectors. VR technology has offered many companies new techniques and opportunities to attract potential customers to their business.

The e-commerce industry offers the unique feature of virtually trying clothes or accessories and assisting customers in making the right purchase decisions. Moreover, the temporary shutdown of educational institutions to curb the spread of coronavirus has compelled institutions to shift their academic sessions to VR-based online platforms for better collaboration. The technology has also enabled medical professionals to provide training and aid treatments through its audio-visual tool. The major drivers of the global market are the increasing adoption of automation and Artificial Intelligence (AI) across several industries.

The commencement of 5G network bandwidth that is expected to enhance the immersion experience on VR devices and the rise in smartphone penetration is also likely to boost the market growth. Various industries, such as healthcare, retail, education, manufacturing, automation, real estate, and tourism, have deployed several VR-based software/devices that have proven beneficial for their businesses. For instance, Atlantis, The Palm Dubai, a luxury resort in the UAE, offers its potential customers the opportunity to experience the ambiance of the resort through a VR 360 tool, providing an immersive and real-like sight to the viewers.

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Virtual Reality Market Report Highlights

• Innovations in smartphone hardware, coupled with state-of-the-art VR-compatible headsets, are anticipated to drive the market from 2021 to 2028
• The Head-Mounted Display (HMD) segment accounted for over 60.0% of the total market share in 2020
• The semi & fully immersive technology segment accounted for the largest revenue share in 2020 and is expected to witness substantial growth over the forecast period
• This growth is attributed to the ability of the technology to provide real-like dimension to a simulated realm
• In 2020, Asia Pacific accounted for the largest market share of around 40.0% and is expected to maintain its lead throughout the forecast years

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Virtual Reality Market Segmentation

Grand View Research has segmented the global virtual reality market on the basis of device, technology, component, application, and region:

VR Device Outlook (Revenue, USD Million, 2016 - 2028)

• Head-Mounted Display (HMD)
• Gesture-Tracking Device (GTD)
• Projectors & Display Wall (PDW)

VR Technology Outlook (Revenue, USD Million, 2016 - 2028)

• Semi & Fully Immersive
• Non-Immersive

VR Component Outlook (Revenue, USD Million, 2016 - 2028)

• Hardware
• Software

VR Application Outlook (Revenue, USD Million, 2016 - 2028)

• Aerospace & Defense
• Consumer
• Commercial
• Enterprise
• Healthcare
• Others

VR Regional Outlook (Revenue, USD Million, 2016 - 2028)

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

List of Key Players of Virtual Reality (VR) Market

• Barco
• CyberGlove Systems, Inc.
• Facebook Technologies, LLC
• HTC Corporation
• Microsoft
• Samsung Electronics Co., Ltd.
• Sensics, Inc.
• Sixense Enterprises, Inc.
• Ultraleap Ltd.

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.

Smart Lock Market to Exhibit Impressive Growth During 2021 – 2028: Grand View Research Inc.

 Smart Lock Market Growth & Trends

The global smart lock market demand is expected to reach 41.9 million units by 2028, registering a CAGR of 21.4% from 2021 to 2028, according to a new report by Grand View Research, Inc. Rising awareness among consumers regarding the benefits and convenience offered by smart home security solutions and surging adoption of connected devices are primarily driving the industry growth. Besides, the hospitality sector has witnessed a large-scale deployment of smart locks with leading companies and stay aggregators increasingly relying on them to ensure security and accessibility to both customers and owners.

The rising global smartphone penetration has further opened new growth prospects for industry participants due to their continuous efforts to launch apps to manage the locking/unlocking procedures. Furthermore, prominent market players are incorporating various innovative techniques, such as Wi-Fi-enabled locking/unlocking and Bluetooth-based (BLE) locking/unlocking using smartphones and other devices, in their smart lock models. Touch panels are also being incorporated to facilitate the entry of passwords or pattern-based locking/unlocking.

The COVID-19 pandemic had momentarily hindered the growth of new smart lock installations over the initial couple of quarters of 2020. The dramatic changes, such as restrictions in cross-border trade, economic instability, stringent norms mandating temporary shutdowns of manufacturing sites, and stay-at-home orders for the general populace, created a challenging situation for the industry during the past year. Nevertheless, strategies such as incorporating touchless technologies into their products, creating mobile apps for carrying out procedures, and offering products at reduced prices on the available modes have helped companies to intensify their ROI during these critical lockdown scenarios.

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Smart Lock Market Report Highlights

• The prominent industry participants are adopting aggressive strategies such as partnerships, R&D investments, and mergers and acquisitions to capture higher market share and enhance their smart security solutions portfolio
• Major companies in the marketplace, such as August Home Inc., are developing retrofittable locks that effectively cater to the customers’ demands. Such locks allow users to retain the same design as before with minute details refined and have embedded advanced features
• The residential segment is expected to account for the highest revenue share of approximately 60% by the end of 2028. The rising number of renovation and new construction projects have led to increased installation of such locks, thereby positively impacting the industry over the next seven years
• Asia Pacific is poised to exhibit the highest CAGR of over 22% over the next seven years owing to a rising number of modernization activities across the hospitality and residential sectors, along with the rising awareness regarding advanced security solutions across emerging economies such as India and Korea

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Smart Lock Market Segmentation

Grand View Research has segmented the global smart lock market based on type, application, and region:

Smart Lock Type Outlook (Volume, Thousand Units; Revenue, USD Million, 2016 - 2028)

• Deadbolt
• Lever Handles
• Padlock
• Others

Smart Lock Application Outlook (Volume, Thousand Units; Revenue, USD Million, 2016 - 2028)

• Residential
• Hospitality
• Enterprise
• Critical Infrastructure
• Others

Smart Lock Regional Outlook (Volume, Thousand Units; Revenue, USD Million, 2016 - 2028)

• North America
  • US.
  • Canada
• Europe
  • Germany
  • UK.
• Asia Pacific
  • China
  • Japan
  • Korea
• Latin America
• Middle East & Africa

List of Key Players of the Smart Lock Market

• Yale
• Schlage
• August Home
• Kwikset
• Goji
• SDS Smart Locks
• Mul-T-Lock
• UniKey Technologies 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.

LED Lighting Market Report by Opportunity, Demand, Recent Trends, Major Driving Factors and Business Growth Strategies

 LED Lighting Market Growth & Trends

The global LED lighting market size is expected to reach USD 135.58 billion by 2028, according to a new report by Grand View Research, Inc., registering a CAGR of 12.5% over the forecast period. LED lighting offers benefits, such as improved energy efficiency, low heat emission, cost-saving, directional controlled lighting, longer service life, and nanosecond switching, which have been instrumental in driving the market growth.

In addition, the flexibility of using LED lighting for complex, compact shape, and aesthetically pleasing design fixtures has led to higher adoption rates, specifically across residential and commercial spaces. LED manufacturers are incorporating features, such as occupancy sensor, daylighting (bright white-blue light), dim-ability, and timer, to attain smart lighting capabilities at affordable prices.

Moreover, favorable government policies, rebates, and retrofit programs for commercial, industrial, and residential sectors to encourage the adoption of LED lighting are driving the market growth over the forecast period. Flicker-free LED lighting was introduced to reduce power consumption, facilitate long service life, and reduce the consumption of inefficient, high-wattage light sources, such as incandescent, HID, and CFL.

The market has been transforming radically in line with the continued advancements in LED lighting and semiconductor technology as well as the growing demand for sustainable and energy-efficient solutions. The advent of connected and controlled lighting technology has boosted the demand for lamps and fixtures. For instance, the Hue Lighting by Philips is a smart home lighting system that provides an entire range of lights that can be controlled using the Hue app on smartphones.

The growing preference for smart and Wi-Fi-enabled light bulbs is expected to emerge as one of the prominent factors driving the market growth over the forecast period. The Covid-19 pandemic disrupted lifestyle and business operations worldwide. Due to the delayed construction projects, owing to a temporary shutdown, the LED lights’ purchase order, delivery timeline, and payments were delayed, resulting in low revenue generation for the manufacturers.

Moreover, the companies relying on raw material suppliers from China faced delays, which hampered the production of new LED lamps and luminaires. Hence, the global market witnessed a decline in the overall revenue in the year 2020. The market was expected to recover in 2021 with reduced Covid-19 cases; however, the pandemic's second wave for an uncertain period is likely to affect the year-on-year growth rate. However, the improved knowledge about Covid-19 and continued business functions with preventive measures seem to be favorable for increasing the product demand over the forecast period.

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LED Lighting Market Report Highlights

• The rising demand for different product types for enhancing the aesthetics in luxury hotels, office spaces, as well as residential spaces is contributing to the market growth
• The lamps segment is anticipated to register the highest CAGR over the forecast period. The residential and commercial sectors primarily drive the demand for A-type, T-type, R-type, and B- & C-shaped wall and table lamps owing to their visibly pleasing aesthetics and varied illumination capability to enhance indoor and outdoor spaces
• Asia Pacific is expected to lead the global, in terms of revenue share as well as growth rate, over the forecast period
• The growth of APAC market is credited to the presence of large-scale manufacturers hotels, malls, and other commercial spaces in countries, such as China, India, Indonesia, Japan, and Vietnam
• Most of the major players offer an array of products for residential, commercial, and industrial applications
• Vendors in this market have been relying on an inorganic growth strategy to capture higher market shares
• For instance, Signify Holdings acquired GE Lighting and Philips to extend its product portfolio and expand its geographical footprint

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LED Lighting Market Segmentation

Grand View Research has segmented the global LED lighting market on the basis of product, application, end-use, and region:

LED Lighting Product Outlook (Revenue, USD Billion, 2016 - 2028)

• Lamps
  • A-Lamps
  • T-Lamps
  • Others
• Luminaires
  • Streetlights
  • Downlights
  • Troffers
  • Others

LED Lighting Application Outlook (Revenue, USD Billion, 2016 - 2028)

• Indoor
• Outdoor

LED Lighting End-use Outlook (Revenue, USD Billion, 2016 - 2028)

• Commercial
• Residential
• Industrial
• Others

LED Lighting Regional Outlook (Revenue, USD Billion 2016 - 2028)

• North America
  • US.
  • Canada
• Europe
  • UK.
  • Germany
• Asia Pacific
  • China
  • India
  • Japan
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa

List of Key Players of LED Lighting Market

• Acuity Brands Lighting, Inc.
• Cree Lighting (Ideal Industries, Inc.)
• Dialight
• Digital Lumens, Inc.
• Hubbell
• LSI Industries, Inc.
• Panasonic Corp.
• Siteco GmbH
• Signify Holding
• Zumtobel Group

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.

3D Animation Market Size Projected to Rise Lucratively During 2021 to 2028: Grand View Research Inc.

 3D Animation Market Growth & Trends

The global 3D animation market size is estimated to reach USD 39.96 billion by 2028, registering a CAGR of 11.7% from 2021 to 2028, according to a new report by Grand View Research, Inc. The significant increase in the adoption of cloud solutions for animation, rising demand for high-quality content by consumers, and the increased use of Visual Effects (VFX) in movies are some of the key factors driving the market growth. The integration of Artificial Intelligence (AI) with 3D animation has made the simulation process more streamlined. Hence, many companies are partnering with AI technology providers to simplify their simulation tasks and enhance the overall quality of several operations. For instance, Autodesk, Inc.’s acquisition of Spacemaker, an AI-supported software provider for urban development, has allowed the company to speed up the designing, planning, and development process of architecture and urban planning.

The substantial adoption of VFX in the entertainment sector is expected to fuel market growth. The technique is being preferred to depict scenarios that cannot be shot in a real environment by game developers, movie makers, and animators. The latest trend of applying VFX in adverts and infomercials to display products, using 3D elements such as animated logos, is anticipated to drive the growth of the market for 3D animation. Several entertainment businesses are exploiting techniques such as 3D videos, interactive 3D, virtual reality 3D, inverse kinematics, fluid simulation, and 3D skeletal animation in their media offerings. For instance, Warner Bros. Entertainment Inc, Dreamworks Animation, and Disney (Pixar) are producing animated movies using these techniques, thus driving the market.

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3D Animation Market Report Highlights

• In terms of component, the software segment is expected to witness the fastest CAGR of over 12.5% from 2021 to 2028
• In terms of end use, the media and entertainment segment accounted for the largest revenue share of over 35.0% in 2020 and is likely to maintain its dominance till 2028
• The Asia Pacific region is anticipated to register the highest CAGR of nearly 13.0% over the forecast period as the market is witnessing a high deployment of advanced 3D technologies in various application areas
• In terms of technique, the 3D modeling technique segment dominated the market in 2020 and is expected to maintain its dominance over the forecast period as this technique enables the designing and creation of digital objects
• In terms of deployment, the on-premise segment dominated the market in 2020 and is expected to maintain its dominance during the forecast period. This growth can be attributed to the increased deployment of on-premise solutions in the VFX and visualization business

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3D Animation Market Segmentation

Grand View Research has segmented the global 3D animation market based on technique, component, deployment, end use, and region:

3D Animation Technique Outlook (Revenue, USD Million, 2016 - 2028)

• 3D Modeling
• Motion Graphics
• 3D Rendering
• Visual Effects

3D Animation Component Outlook (Revenue, USD Million, 2016 - 2028)

• Hardware
• Software
• Services

3D Animation Deployment Outlook (Revenue, USD Million, 2016 - 2028)

• On-premise
• On-demand

3D Animation End-use Outlook (Revenue, USD Million, 2016 - 2028)

• Media & Entertainment
• Architecture & Construction
• Education & Academics
• Manufacturing
• Healthcare & Life sciences
• Government & Defense
• Others

3D Animation Regional Outlook (Revenue, USD Million, 2016 - 2028)

• North America
  • US.
  • Canada
• Europe
  • UK.
  • Germany
• Asia Pacific
  • Australia
  • China
  • India
  • Japan
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa

List of Key Players in the 3D Animation Market

• Autodesk, Inc.
• Corel Corporation
• Adobe Systems Incorporated
• NVIDIA Corporation
• Side Effects Software Inc.
• Maxon Computer

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.

Smart Manufacturing Market Trends, Company Share, Industry Growth And Future Scope: Grand View Research Inc.

 Smart Manufacturing Market Growth & Trends

The global smart manufacturing market size is estimated to reach USD 589.98 billion by 2028, registering a CAGR of 12.4% from 2021 to 2028, according to a new study by Grand View Research, Inc. Increasing adoption of technologies, including big data analytics, smart robots, and industrial IoT, in manufacturing facilities is a key factor propelling the market growth. Additionally, small and medium enterprises are increasingly integrating plant asset management, Manufacturing Execution Systems (MES), and 3D printing solutions, accelerating the market growth.

Governments across the globe are increasingly investing and promoting smart manufacturing initiatives. Both developed and developing economies are aggressively embracing this avenue, contributing to market growth. For instance, under the Made in China 2025 program, the government of China is reportedly investing approximately USD 3 billion. Similarly, the Indian government is promoting smart manufacturing with the SAMARTH - Udyog Bharat 4.0 initiative to transform the manufacturing sector.

Automotive and aerospace and defense are the leading revenue-generating end-use verticals while oil and gas and industrial equipment are anticipated to scale up the digitization efforts rapidly. The advent of 3D printing, modeling, and simulation in the manufacturing process has significantly propelled the market growth. Furthermore, the market participants are entering into strategic partnerships to offer improved end products. For instance, General Motors (GM), an automobile manufacturer, partnered with Autodesk Inc. to manufacture lighter vehicle parts using 3D printing technology.

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Smart Manufacturing Market Report Highlights

• A shift from operational technologies to effective artificial intelligence and data analytics is expected to emerge as a major market trend
• Internet of things has gained popularity in the global manufacturing sector owing to benefits such as reduced operational costs and increased efficiency and productivity
• The integration of hardware and software is expected to be the prime focus of solution providers. Unified design architecture and cyber-physical systems are expected to witness high demand in the market
• Developed economies are supporting digitalization to reintroduce industrialization into their turf while developing countries are making investments in smart technologies to comply with international manufacturing standards and trends

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Smart Manufacturing Market Segmentation

Grand View Research has segmented the global smart manufacturing market based on component, technology, end use, and region:

Smart Manufacturing Component Outlook (Revenue, USD Billion, 2016 - 2028)

• Hardware
• Software
• Services

Smart Manufacturing Technology Outlook (Revenue, USD Billion, 2016 - 2028)

• Machine Execution Systems
• Programmable Logic Controller
• Enterprise Resource Planning
• SCADA
• Discrete Control Systems
• Human Machine Interface
• Machine Vision
• 3D Printing
• Product Lifecycle Management
• Plant Asset Management

Smart Manufacturing End-use Outlook (Revenue, USD Billion, 2016 - 2028)

• Automotive
• Aerospace & Defense
• Chemicals & Materials
• Healthcare
• Industrial Equipment
• Electronics
• Food & Agriculture
• Oil & Gas
• Others

Smart Manufacturing Regional Outlook (Revenue, USD Billion, 2016 - 2028)

• North America
  • US.
  • Canada
• Europe
  • UK.
  • Germany
• Asia Pacific
  • China
  • India
  • Japan
• Latin America
  • Brazil
  • Mexico
• MEA

List of Key Players of the Smart Manufacturing Market

• Siemens
• General Electric
• Rockwell Automation, Inc.
• Schneider Electric
• Honeywell International Inc.
• Emerson Electric
• Fanuc

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.

Wearable Medical Devices Market is Anticipated To Generate Significant Revenues by 2028: Grand View Research Inc.

 Wearable Medical Devices Market Growth & Trends

The global wearable medical devices market size is expected to reach USD 111.9 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 26.8% from 2021 to 2028. Rising demand for hi-tech products and continuous health monitoring is fueling market growth.

Increasing obesity rate coupled with rising awareness about physical fitness is encouraging people to go for workouts and adopt other fitness-related activities. Wearable devices such as smart bands and smartwatches help in monitoring fitness parameters consisting of calories burned, footstep count, heart rate and distance covered. Moreover, these wearable devices companies offer guidance from experts who are certified dietician or nutrition, and hence, this business model is also generating hefty demand for these ancillary products and services.

Companies such as Google, Fitbit, Apple, and Nike are working towards the launch of new innovative products that are anticipated to boost market growth over the forecast period, thus portraying a high growth rate. Smart watches and wristbands are the current focal point of product development and innovation, leading to abundant availability of such instruments. For instance, HealthPatch, a product of Vital Connect, was launched in March 2014. The product is an adhesive patch that can be placed anywhere on the chest and is used to regulate biometrics such as heart rate, skin temperature, body posture, and activities like steps walked.

The COVID-19 pandemic somehow has a positive impact on the market owing to increasing demand for telemedicine. As per the WHO guidelines people should follow social distancing and avoid public gathering. Hence due to this reason various physicians are preferring telemedicine route so that they can treat patients from distance without spreading the virus. Growth of telemedicine and expansion of applications to Integrate artificial intelligence (AI) in its systems has led to market growth.

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Wearable Medical Devices Market Report Highlights

• The diagnostic devices segment dominated the market in 2020 owing to the increasing disposable income and awareness, and higher healthcare spending
• The strap/clip/bracelet segment dominated the market in 2020 and is expected to continue its dominance over the forecast period
• Home healthcareheld a significant share of 54.0% in 2020 owing to the growing base of geriatric population triggering incidence rates of target diseases
• North America is projected to command for a cumulative share in 2020 due to the increasing application of home care and remote patient monitoring for the purpose of regular, continuous, and long-term monitoring of patients
• Asia Pacific is expected to witness the fastest growth rate over the forecast period. This growth can be attributed to the growing awareness level, increasing disposable income, presence of a large population base and rising incidence rate of chronic conditions

Access Press Release@ https://www.grandviewresearch.com/press-release/global-wearable-medical-device-market

Wearable Medical Devices Market Segmentation

Grand View Research has segmented the global wearable medical devices market based on product, site, application, and region:

Wearable Medical Devices Product Outlook (Revenue, USD Billion, 2016 - 2028)

• Diagnostic Devices
  • Vital Sign Monitoring Devices
    • Heart Rate Monitors
    • Activity Monitors
    • Electrocardiographs
    • Pulse Oximeters
    • Spirometers
    • Blood Pressure Monitors
    • Others
  • Sleep Monitoring Devices
    • Sleep trackers
    • Wrist Actigraphs
    • Polysomnographs
    • Others
  • Electrocardiographs Fetal And Obstetric Devices
  • Neuromonitoring Devices
    • Electroencephalographs
    • Electromyographs
    • Others
  • Therapeutic Devices
    • Pain Management
      • Neurostimulation
      • Others
    • Insulin/Glucose Monitoring
      • Insulin Pumps
      • Others
    • Rehabilitation
      • Accelometers
      • Sensing
      • Ultrasound Platform
      • Others
    • Respiratory Therapy
      • Ventilators
      • Positive Airway Pressure (PAP) Devices
      • Portable Oxygen Concentrators
      • Others

Wearable Medical Devices Site Outlook (Revenue, USD Billion, 2016 - 2028)

• Handheld
• Headband
• Strap/Clip/Bracelet
• Shoe Sensors
• Others

Wearable Medical Devices Application Outlook (Revenue, USD Billion, 2016 - 2028)

• Sports And Fitness
• Remote Patient Monitoring
• Home Healthcare

Wearable Medical Devices Regional Outlook (Revenue, USD Billion, 2016 - 2028)

• North America
  • US.
  • Canada
• Europe
  • France
  • Germany
  • UK.
  • Italy
  • Spain
  • Sweden
  • Russia
  • Netherlands
• Asia Pacific
  • Japan
  • China
  • India
  • South Korea
  • Australia
  • Singapore
  • Thailand
  • Philippines
  • Malaysia
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Colombia
• Middle East and Africa (MEA)
  • South Africa
  • Saudi Arabia
  • UAE

List of Key Players of Wearable Medical Devices Market

• Philips Electronics
• Fitbit
• Basis Science
• Garmin
• Covidien
• Omron Corp.
• Withings
• Vital Connect
• Polar Electro
• Intelesens
• Everist Genomics
• Intelesens
• Sotera Wireless

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.

Remote Patient Monitoring System Market is Growing at Significant Rate, 2028: Grand View Research Inc.

 Remote Patient Monitoring System Market Growth & Trends

The global remote patient monitoring system market size is expected to reach USD 4.1 billion by 2028, according to a new report by Grand View Research Inc. It is expected to expand at a CAGR of 19.7% from 2021 to 2028. The remote patient monitoring (RPM) system uses digital technology to gather patient data and monitor a patient’s health remotely. The remote patient monitoring system is expected to witness substantial growth in demand due to its capability to monitor various chronic conditions, such as diabetes, cardiovascular conditions, and cancer.

According to the Centers for Disease Control and Prevention (CDC), 34.2 million people in the U.S. have diabetes and 88 million have prediabetes. Apart from this, the World Health Organization (WHO) estimates that around 422 million people have diabetes at the global level. Companies are consistently engaged in developing tools for monitoring patients with diabetes and other chronic diseases outside of conventional care settings, especially during the COVID-19 pandemic fueling the market growth.

Asia Pacific is projected to be a key revenue-generating region in the coming years. The region is backed by developing countries, such as China, South Korea, and Thailand, which are witnessing an increase in the number of chronic diseases owing to lifestyle changes. Cardiovascular disease is among the leading cause of death in these countries. Remote patient monitoring system is expected to play a key role in the early detection and timely management of these diseases.

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Remote Patient Monitoring System Market Report Highlights

• Based on product, in the specialized monitors segment, cardiac rhythm monitor is expected to expand at a significant CAGR over the forecast period owing to the increasing incidence of cardiac conditions globally
• By end use, home healthcareis projected to be the fastest-growing segment with a CAGR of 20.1% from 2021 to 2028 owing to a rise in the number of patients accessing remote monitoring due to the COVID-19 pandemic
• Asia Pacific is expected to showcase high growth potential in the coming years due to the presence of large unmet needs in emerging economies, such as China and India. This region is also backed by Japan, which has one of the highest numbers of 65+-year-old adults at the global level

Access Press Release@ https://www.grandviewresearch.com/press-release/global-remote-patient-monitoring-devices-market

Remote Patient Monitoring System Market Segmentation

Grand View Research has segmented the global remote patient monitoring system market on the basis of product, application, end-use, and region:

RPM System Product Outlook (Revenue, USD Million, 2016 - 2028)

• Vital Sign Monitors
  • Blood Pressure Monitors
  • Pulse Oximeters
  • Heart Rate Monitor (ECG)
  • Temperature Monitor
  • Respiratory Rate Monitor
  • Brain Monitoring (EEG)
• Specialized Monitors
  • Anesthesia Monitors
  • Blood Glucose Monitors
  • Cardiac Rhythm Monitor
  • Respiratory Monitor
  • Fetal Heart Monitors
  • Prothrombin Monitors
  • Multi Parameter Monitors (MPM)
  • Others

RPM System Application Outlook (Revenue, USD Million, 2016 - 2028)

• Cancer
• Cardiovascular Diseases
• Diabetes
• Sleep Disorder
• Weight management and Fitness Monitoring
• Bronchitis
• Infections
• Virus
• Dehydration
• Hypertension

RPM System End-use Outlook (Revenue, USD Million, 2016 - 2028)

• Hospital Based Patients
• Ambulatory Patients
• Home Healthcare

RPM System Regional Outlook (Revenue, USD Million, 2016 - 2028)

• North America
  • US.
  • Canada
• Europe
  • Germany
  • UK.
  • France
  • Italy
  • Spain
• Asia Pacific
  • China
  • Japan
  • India
  • Thailand
  • South Korea
• Latin America
  • Mexico
  • Brazil
  • Argentina
  • Colombia
• MEA
  • South Africa
  • Saudi Arabia
  • UAE

List of Key Players of Remote Patient Monitoring System Market

• Honeywell
• American Telecare
• Roche
• Philips Healthcare
• Bosch
• Biotronik
• Intel
• Welch Allyn
• Health anywhere Inc.
• Johnson & Johnson
• Covidien Plc.

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.

Global Demand for Clinical Trial Supplies Market to Incur Considerable Upsurge During 2021 – 2028: Grand View Research Inc.

 Clinical Trial Supplies Market Growth & Trends

The global clinical trial supplies market is expected to reach USD 2.9 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to witness growth at 6.0% CAGR owing to the Increasing volume of clinical trial studies coupled with the growing complexity in conduction of these trials are the primary driver of the industry. Furthermore, geographic expansion and development of Information Technology (IT) to facilitate higher integration and smooth performance of activities are other vitally impacting parameters. Over the next eight years, the clinical trials and pharmaceutical industry is anticipated to continue steady growth, thereby promoting the high requirement of clinical trial supplies.

U.S and Canada are home to majority of clinical trials which are conducted in this region. No language barrier is one of the major factors for the preference of this region for majority of clinical trials, as English language is widely spoken in this region. Major CRO’s and biopharmaceutical companies have their hub in this region and with advancement in technology the demand for efficient supplies is increasing and the region is expected to dominate the clinical trial supplies market over the forecast period.

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Clinical Trial Supplies Market Report Highlights

• On the basis of clinical phase, the market is anticipated to be dominated by Phase III in 2025. The presence of large number of molecules estimated to reach Phase III by 2020 is the primary factor responsible for this prediction.
• By services, storage and distribution is anticipated to witness the fastest growth at a CAGR of over 7.0%.
• Key end-users of this industry are pharmaceuticals, and biologics. Biologics are expected to witness fastest growth owing to the increasing research in the field of genetics and biotechnology such as development of nanoparticle-based drug delivery systems.
• In terms of therapeutic use or clinical indication, oncology dominates the market. The highest research activity as of 2016 is being performed for this indication, which in turn is expected to drive the market.
• Few of the industry players include Movianto GmbH, Thermo Fischer Scientific, Sharp Packaging Services, Catalent Pharma Solution, Biocair International Ltd., PCI Services, Almac Group Ltd, and Patheon Inc. Other players present in the market space include Clinigen Group Plc, Merck Serono, and Chimerix.

Access Press Release@ https://www.grandviewresearch.com/press-release/global-clinical-trial-supplies-market

Clinical Trial Supplies Market Segmentation

Grand View Research has segmented the global clinical trial supplies market on the basis of clinical phase, product and services, therapeutic use, end-use, and region:

Clinical Trial Supplies Clinical Phase Outlook (Revenue, USD Million, 2016 - 2028)

• Phase I
• Phase II
• Phase III
• Other

Clinical Trial Supplies Product & Services Outlook (Revenue, USD Million, 2016 - 2028)

• Manufacturing
• Storage & Distribution
  • Cold Chain Distribution
  • Non-cold Chain Distribution
• Supply Chain Management

Clinical Trial Supplies End-use Outlook (Revenue, USD Million, 2016 - 2028)

• Pharmaceutical
• Biologics
• Medical device
• Others

Clinical Trial Supplies Therapeutic Use Outlook (Revenue, USD Million, 2016 - 2028)

• Oncology
• CNS Disorders
• Cardiovascular
• Infectious Disease
• Metabolic Disorders
• Others

Clinical Trial Supplies Regional Outlook (Revenue, USD Million, 2016 - 2028)

• North America
  • US.
  • Canada
• Europe
  • Germany
  • UK.
• Asia Pacific
  • China
  • Japan
• Latin America
  • Mexico
  • Brazil
• MEA
  • South Africa
  • Saudi Arabia

List of Key Players of Clinical Trial Supplies Market

• Almac Group
• Biocair
• Catalent, Inc.
• KLIFO
• Movianto (Walden Group)
• PCI Pharma Services
• Sharp
• Thermo Fischer Scientific, Inc.
• Marken
• Parexel International Corporation

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.