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Handheld Thermal Camera Market Set for Strong Growth Through 2032: Key Insights and Forecasts

The global handheld thermal camera market is projected to grow from USD 1.83 billion in 2026 to USD 2.83 billion by 2032, registering a CAGR of 7.6%. The demand for handheld thermal cameras is growing due to the increasing need for predictive maintenance, non-contact temperature monitoring, and workplace safety across industries such as manufacturing, automotive, construction, energy, and public safety. Industries are increasingly adopting handheld thermal cameras to detect overheating equipment, electrical faults, insulation issues, and mechanical failures before breakdowns occur, helping reduce downtime and maintenance costs. 

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The handheld thermal camera market is witnessing significant technological advancements focused on improving image quality, portability, connectivity, and real-time analytics capabilities. Manufacturers are increasingly integrating high-resolution infrared sensors, AI-enabled image processing, cloud connectivity, and IoT-based monitoring systems to enhance thermal detection accuracy and operational efficiency. The development of compact, lightweight, and smartphone-compatible thermal cameras is expanding adoption across industrial inspection, automotive diagnostics, healthcare, security, and consumer applications. In addition, advancements in uncooled microbolometer technology, enhanced battery performance, wireless data transfer, and multi-spectral imaging are improving device performance while reducing costs. Companies are also focusing on incorporating advanced software features such as predictive maintenance analytics, automated fault detection, and real-time temperature mapping to support industrial automation and smart infrastructure applications. 

Based on price tier, mid-range (800 – 2,900) tiers are expected to dominate the handheld thermal camera market due to its strong balance between performance, affordability, and application versatility. Thermal cameras in this range offer advanced features such as high-resolution imaging, accurate temperature measurement, wireless connectivity, and enhanced software capabilities, making them suitable for industrial maintenance, building inspection, automotive diagnostics, and electrical testing applications. These devices are increasingly preferred by small and medium-sized enterprises as well as professional technicians seeking cost-effective solutions without compromising imaging quality and operational efficiency. 

Based on application, DIY/smartphone plugins is expected to be the fastest-growing segment due to increasing consumer adoption of compact, affordable, and easy-to-use thermal imaging solutions. Smartphone-compatible thermal cameras provide convenient thermal inspection capabilities for home maintenance, HVAC inspection, automotive troubleshooting, outdoor activities, and basic electrical diagnostics without requiring expensive professional equipment. Advancements in mobile infrared sensors, app-based analytics, wireless connectivity, and compact designs are making these devices more accessible to consumers, technicians, and small businesses. 

The Asia Pacific region is expected to witness the fastest growth in the handheld thermal camera market due to rapid industrialization, expanding manufacturing activities, and increasing investments in infrastructure development across countries such as China, India, Japan, and South Korea. Growing adoption of predictive maintenance, industrial automation, and workplace safety solutions across manufacturing, automotive, energy, and electronics industries is significantly driving demand for handheld thermal cameras in the region. Additionally, rising construction activities, increasing deployment of thermal imaging for building inspection and surveillance, and the presence of major electronics manufacturing hubs are further supporting market growth. 

Players in the handheld thermal camera market can capture significant growth opportunities in the Asia Pacific region due to rapid industrial expansion, increasing manufacturing activities, and rising adoption of predictive maintenance and industrial automation solutions across countries such as China, India, Japan, and South Korea. Growing investments in infrastructure development, smart manufacturing, energy management, and workplace safety are creating strong demand for handheld thermal cameras in industrial inspection, electrical diagnostics, building inspection, and public safety applications.

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AGCO Corporation Revolutionizes Precision Farming with AI-Driven Crop Protection and Intelligent Spraying Solutions

AGCO Corporation is transforming modern agriculture through advanced AI-driven crop protection technologies and intelligent spraying solutions that are redefining precision farming practices worldwide. As growers face increasing pressure to maximize crop yields, reduce input costs, and meet sustainability goals, AGCO is leveraging artificial intelligence, machine vision, automation, and precision application technologies to deliver smarter, more efficient crop management solutions. These innovations are helping farmers optimize field performance while minimizing environmental impact, strengthening AGCO's position as a leader in the global Precision Farming Market.

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At the heart of AGCO's crop protection strategy is the integration of artificial intelligence and machine vision technologies into spraying operations. Advanced camera systems, sensors, and AI algorithms continuously analyze field conditions in real time, enabling equipment to identify crops, weeds, and target treatment zones with exceptional accuracy. By distinguishing between desired plants and unwanted vegetation, AGCO's intelligent spraying systems can apply crop protection products only where needed, reducing waste and improving overall application efficiency.

One of the key advantages of AI-driven crop protection is the ability to significantly reduce chemical usage. Traditional blanket spraying methods often result in overapplication of herbicides and pesticides, increasing operational costs and environmental concerns. AGCO's intelligent spraying technologies enable site-specific and targeted applications, ensuring that chemicals are used more effectively. This precision approach helps farmers lower input expenses while supporting sustainable farming practices and regulatory compliance.

AGCO's innovation ecosystem, supported by PTx technologies and Precision Planting solutions, provides growers with powerful tools to optimize crop management decisions. Intelligent spraying systems are integrated with field mapping, GPS guidance, and real-time data analytics, allowing farmers to create highly accurate application strategies. These technologies enable variable-rate spraying based on crop health, weed pressure, soil conditions, and environmental factors, maximizing treatment effectiveness while conserving valuable resources.

Artificial intelligence further enhances decision-making through predictive agronomy capabilities. By analyzing historical field data, weather patterns, soil characteristics, and crop performance metrics, AGCO's AI-powered platforms generate actionable insights that help farmers determine the optimal timing and application rates for crop protection treatments. This data-driven approach improves crop health outcomes while reducing unnecessary field operations and resource consumption.

Another important aspect of AGCO's intelligent spraying solutions is operational efficiency. Automated boom control, section management, and nozzle-level precision reduce overlaps and missed areas during spraying operations. These features improve field coverage accuracy while minimizing product waste and fuel consumption. Combined with autonomous and semi-autonomous machinery capabilities, AGCO's technologies help farmers complete field tasks more quickly and efficiently, even during critical application windows.

The company's focus on connectivity and digital agriculture further strengthens its precision farming capabilities. Integrated farm management platforms collect and process data from spraying equipment, sensors, and field operations, providing farmers with comprehensive visibility into crop protection activities. Real-time monitoring and performance analytics enable continuous optimization of spraying operations, helping growers improve productivity and profitability throughout the growing season.

Sustainability remains a central component of AGCO's technology strategy. Intelligent spraying solutions support environmental stewardship by reducing chemical runoff, minimizing soil impact, and promoting more responsible use of agricultural inputs. As global agriculture increasingly prioritizes sustainable production practices, AGCO's precision crop protection technologies help farmers achieve both economic and environmental objectives.

In addition to crop protection, AGCO continues to expand its investments in artificial intelligence, automation, and digital agriculture through strategic partnerships, research initiatives, and technology development programs. The integration of AI-powered agronomy, autonomous machinery, and precision application systems positions the company to address the evolving needs of modern agriculture while driving long-term innovation across the farming value chain.

As precision agriculture continues to advance, AGCO Corporation is leading the industry through its AI-driven crop protection technologies and intelligent spraying solutions. By combining machine learning, computer vision, predictive analytics, and precision application capabilities, AGCO is helping farmers improve crop performance, reduce operational costs, and enhance sustainability. These innovations are revolutionizing precision farming and shaping the future of intelligent agricultural production worldwide.

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Top Market Trends Shaping the Future of the Testing, Inspection, and Certification Sector

The global testing, inspection, and certification (TIC) market is projected to grow from USD 254.41 billion in 2026 to USD 306.13 billion by 2031, at a CAGR of 3.8%. Stronger regulatory compliance requirements and higher buyer expectations for quality and safety are sustaining demand for TIC services across manufacturing, energy, healthcare, and consumer goods industries. Expanding cross-border supply chains are increasing the need for traceability, documentation readiness, and consistent conformity evidence across markets. Digitalization through automation, connected laboratories, remote audits, and faster reporting is improving turnaround times and supporting multi-site programs. Sustainability assurance and supply chain due diligence are also widening service scope and reinforcing long-term demand. 

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Some major players in the testing, inspection, and certification (TIC) market with significant global footprints include SGS SA (Switzerland), Bureau Veritas (France), Intertek Group plc (UK), TÜV SÜD (Germany), and TÜV Rheinland (Germany). Two dominant strategies are shaping competition. The first strategy is portfolio expansion through acquisitions, where leading TIC providers use targeted M&A to add niche capabilities in higher-growth service areas such as sustainability and ESG assurance, environmental and specialized testing, cybersecurity, and digital compliance, while also strengthening regional presence and customer coverage. This is illustrated by SGS’s January 2025 acquisition of Aster Global Environmental Solutions, which expanded capabilities in greenhouse gas validation and verification, offsets, forestry, ecosystem services, and corporate social responsibility. Similarly, TÜV Rheinland acquired SYGMA CERTIFICATION in March 2025, broadening its agri-food certification portfolio and strengthening its presence in Spain. The second strategy is digital enablement, with providers improving turnaround time, consistency, and asset-level insight through AI, remote inspection, and data-driven assurance tools. This is reflected in Bureau Veritas’s June 2025 launch of Augmented Surveyor 3D, an AI-powered platform for drone-based remote inspection, anomaly detection, and 3D defect localization in ship and offshore structures. In parallel, TÜV SÜD issued Europe’s first ISO/IEC 42001 certificate in April 2025, transforming emerging AI governance requirements into a new certification and assurance offering.

SGS SA, a leading global player in the testing, inspection, and certification (TIC) market, is executing its Strategy 27 agenda around faster growth, operational efficiency, and capability expansion in high-demand areas such as sustainability and digital trust, supported by a large multi-country delivery network and a broad end-to-end portfolio across assurance, testing, inspection, and certification (ATIC) services. Its core competencies include accredited laboratory depth, sector-specific technical expertise, and scalable program delivery for multi-site and cross-border compliance needs. To accelerate horizontal expansion and deepen vertical integration, SGS has pursued targeted bolt-on acquisitions, including Applied Technical Services (ATS), to expand specialized testing, inspection, calibration, and forensic services in North America, alongside platform and cyber additions such as a majority stake in Sami for carbon accounting and the acquisition of Panacea Infosec to strengthen information security services. SGS has also expanded through additional capability deals and strengthened joint ventures, reinforcing its ability to bundle services from verification and testing through certification and ongoing assurance across priority industries.

Intertek Group plc is a leading global provider of testing, inspection, and certification (TIC) services. It is built around its Total Quality Assurance model, with a strategy centered on risk-based, customer-led ATIC solutions, a capital-light footprint, and disciplined investment in high-return capabilities and digital delivery. Its core competencies include accredited testing and certification depth, technical inspection and assurance expertise across regulated industries, and scalable multi-country execution supported by digital tools such as supply-chain traceability and product data solutions. Intertek is actively expanding through bolt-on acquisitions that deepen vertical capabilities and extend horizontal coverage, including Envirolab to strengthen environmental testing in Australia, Suplilab to expand ATIC capacity in food safety and medical device testing in Central America, and Professional Testing Laboratory (PTL) to broaden specialized products testing in North America. It also uses strategic collaborations, such as its partnership with Trace for Good, to scale traceability and sustainability solutions that strengthen compliance evidence and customer outcomes.

The testing, inspection, and certification (TIC) market is fragmented, with five key players accounting for less than 15% of the market share. These market leaders are SGS SA (Switzerland), Bureau Veritas (France), Intertek Group plc (UK), TÜV SÜD (Germany), and TÜV Rheinland (Germany), each supported by diversified service portfolios and broad global delivery networks spanning testing, inspection, certification, and assurance. Two dominant strategies are reinforcing their leadership. The first is capability-led expansion through targeted acquisitions to add depth in higher-growth lines such as sustainability assurance, environmental services, cybersecurity, and specialized testing, while strengthening regional density and sector reach. Recent examples include SGS closing Applied Technical Services and scaling carbon solutions through Sami, Bureau Veritas advancing its LEAP 28 agenda through acquisitions in buildings, infrastructure, renewables, and cybersecurity, and Intertek expanding through acquisitions such as Envirolab, Suplilab, and Professional Testing Laboratory to deepen environmental and product testing coverage. The second strategy is delivery modernization, in which leaders invest in connected laboratories, automation, remote and hybrid audits, and faster digital reporting to improve turnaround and consistency across multi-site, multi-country programs. Beyond the top players, the market remains highly fragmented, with numerous regional and niche providers competing through local responsiveness, specialized technical expertise, and focused accreditation scopes.

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NVIDIA’s AI Robotics Platform Revolutionizes the Intelligent Robotics Market Through Advanced Simulation and Autonomous Learning

 The Intelligent Robotics Market is undergoing a significant transformation as artificial intelligence, advanced computing, and autonomous learning technologies redefine how robots are designed, trained, and deployed. At the center of this revolution is NVIDIA Corporation, whose comprehensive AI robotics platform is enabling the development of smarter, more capable, and highly autonomous robotic systems. Through innovations in simulation, generative AI, accelerated computing, and robotics foundation models, NVIDIA is accelerating the evolution of intelligent robotics across industries ranging from manufacturing and logistics to healthcare and autonomous mobility.

Transforming Robotics Through AI-Powered Innovation

Traditional robot development often requires extensive real-world testing, significant computational resources, and lengthy deployment cycles. NVIDIA is addressing these challenges by providing an integrated robotics ecosystem that combines hardware, software, AI models, and simulation environments into a unified platform.

This ecosystem enables developers, researchers, and enterprises to build, train, simulate, and deploy intelligent robots more efficiently than ever before. By leveraging accelerated computing and AI-driven learning frameworks, robots can acquire new skills faster, adapt to changing environments, and perform increasingly complex tasks with greater autonomy.

Advanced Simulation Accelerates Robot Development

One of NVIDIA’s most significant contributions to the intelligent robotics market is its advanced simulation technology. Before robots are deployed in real-world environments, they can be trained and tested within highly realistic virtual environments that accurately replicate physical conditions.

These capabilities help organizations overcome one of the industry's biggest challenges—the time and expense associated with real-world robot training and testing.

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Medical Device Testing Industry Insights: Challenges, Opportunities, and Growth Drivers

The global medical device testing industry size is expected to be valued at USD 10.6 billion in 2023 and is projected to reach USD 13.5 billion by 2028; it is expected to grow at a CAGR of 4.9% from 2023 to 2028. The medical device testing industry is fueled by stringent regulatory requirements mandating comprehensive testing for device approval. Additionally, the increasing complexity and technological advancements in medical devices necessitate thorough testing for safety and efficacy.

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By segment, medical device testing industry for certification services segment to hold the highest CAGR during the forecast period.

The certification services segment in the medical device testing industry is projected to exhibit the highest compound annual growth rate (CAGR) due to several factors. The stringent regulatory landscape mandates rigorous testing and compliance, driving a surge in demand for certification services. Manufacturers seek certification to ensure their devices meet regulatory standards, facilitating market entry and acceptance. Moreover, heightened emphasis on quality, safety, and performance in the healthcare sector propels the need for reliable certification, pushing the CAGR upwards as the industry evolves and diversifies.

By segment, medical device testing industry for in-house segment to hold the highest market share during the forecast period.

The significant growth of the in-house sourcing segment of the medical device testing industry can be attributed to various factors. The organizations often opt for in-house testing to maintain control over the entire testing process, ensuring confidentiality and data security. Secondly, it provides greater flexibility and customization in testing protocols, aligning closely with specific device requirements and internal processes. Additionally, cost-effectiveness plays a crucial role, as organizations can manage expenses and optimize resources by utilizing their existing facilities and expertise for testing purposes. This approach enables a quicker turnaround and fosters a culture of continuous improvement and innovation within the organization, contributing to its high market share.

By segment, medical device testing industry for active implant medical devices to exhibit the highest CAGR during the forecast period.

The active implant medical devices in the medical device testing industry are positioned for the largest CAGR due to increase in the development and adoption of advanced implantable medical devices, driven by advancements in medical technology and an aging population that demands more sophisticated healthcare solutions. These active implant devices, such as pacemakers and neurostimulators, require stringent testing to ensure their safety, efficacy, and seamless integration within the human body. Regulatory compliance and the need to adhere to strict quality standards further bolster the demand for comprehensive testing services, resulting in the remarkable CAGR observed in this particular segment.

By region, medical device testing industry in Asia Pacific to hold the highest CAGR during the forecast period.

The Asia Pacific region is witnessing a rapid expansion of its healthcare infrastructure, coupled with a burgeoning population and increasing awareness of healthcare standards, fueling the demand for reliable and safe medical devices. Additionally, the presence of a vast and evolving medical device manufacturing sector in countries like China and India necessitates rigorous testing to meet global regulatory requirements and gain access to international markets. The proactive initiatives by governments and regulatory bodies to enhance healthcare quality and safety are propelling the demand for comprehensive medical device testing services in this region.

The medical device testing industry includes major Tier I and II players like Eurofins Scientific (Luxembourg), Intertek Group plc (UK), SGS Société Générale de Surveillance SA. (Switzerland), Bureau Veritas (France), TÜV SÜD (Germany) and others. These players have a strong market presence for medical device testing across various countries in North America, Europe, Asia Pacific, and RoW.

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Livestock Monitoring Market Growth Fueled by AI, Cloud, and Sensor Integration

The livestock monitoring industry is expected to reach USD 2.57 billion by 2031 from USD 1.65 billion in 2025 at a CAGR of 7.7%, from 2025 to 2031.The growth of the livestock monitoring industry is owing to the increasing demands for precision livestock farming and real-time tracking of health situations in dairy, poultry, swine, and equine farms. Major driving factors for growth in the market include the use of smart monitoring techniques, improving herd management conditions, enhancing animal productivity and animal welfare through sensor-based tracking, and the mounting need for diseases to be recognized and prevented at an early phase. Some of the major growth drivers are demand for RFID and GPS-enabled livestock tracking systems, AI-driven analytics for behavioral monitoring, IoT-cloud integration solutions, and government initiatives towards sustainable farming practices. Growth in connected agriculture, wearable livestock monitoring devices, and adoption of industry practices are also expansionary factors. As technology costs decrease, livestock monitoring solutions are becoming more accessible to a majority of livestock farming operations.

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Feeding management segment to grow at the highest CAGR in livestock monitoring industry during the forecast period.

Feeding management is set to achieve the highest CAGR in the livestock monitoring industry. Precision farming and sustainable food production are forcing this demand. Advanced feeding solutions optimize livestock nutrition, minimize waste, and increase productivity by using real-time data to make automated adjustments. In dairy farming, feed intake directly impacts milk yield, necessitating precise nutrient composition. Systems like DeLaval’s Optimat automate feed mixing and distribution, improving efficiency and herd health. Beyond dairy, precision feeding in swine and poultry farming enhances growth rates and reproductive performance. Automated systems monitor feed intake, avoiding inefficiencies and health hazards associated with overfeeding or underfeeding. Data-based information also enables farmers to identify early warning signs of nutritional deficiency or disease, allowing for proactive measures. Feed management solutions are turning into crucial tools for making animal production more sustainable, profitable, and healthier in view of increasing feed prices and consumer expectations regarding the ethical sourcing of animal products. Thus, the increasing adoption is going to unleash tremendous growth in this segment.

Cattle to account for the largest market share in livestock type segment during the forecast period.

Livestock monitoring is a rapidly expanding market, and the cattle segment (dairy and beef) is anticipated to account for the highest market share in the forecast period. It is mainly being driven by an increase in demand for efficient herd management, disease management, and productivity boosts in the dairy and meat industry. For dairy cattle, dairy cattle monitoring solutions optimize milk production, monitor reproductive cycles, and maintain overall herd well-being by tracking feeding habits and milk output. In beef cattle, monitoring weight gain, movement, and health is the key to enhancing the quality of meat, improving breeding efficiency, and optimizing profit. Advanced livestock monitoring technologies such as wearable sensors, GPS-enabled devices, and automated health systems enable farmers to track cattle in real time, enabling them to identify diseases early and enhance breeding cycles. The solutions also assist in traceability of the supply chain, guaranteeing food safety and compliance with regulations. As the industry shifts towards precision farming, livestock monitoring technologies are gaining prominence in enhancing productivity, efficiency, and sustainability in cattle farming.

Europe to account for largest market share during forecast period.

Europe is anticipated to hold the highest market share of the livestock monitoring industry due to enormous progress in agrotech and vast adoption across major regions like the UK, Germany, France, Denmark, Sweden, the Netherlands, and several others in Europe. The region is aided by a well-established agriculture sector, good infrastructure, and government support for sustainable farming practices. The Netherlands, Ireland, and Sweden are major markets in livestock monitoring technology, where major players such as Nedap N.V. (Netherlands), Connecterra (Netherlands), DeLaval (Sweden), Moocall (Ireland), and Dairymaster (Ireland) are leading technological advancements. Major trends in the region include the increasing installations of loT-based solutions for real-time monitoring of animal health, moving toward precision agriculture for optimal resource utilization, and increased focus on animal comfort and sustainability. In addition, regulatory systems that promote traceability and food safety are driving demand for livestock monitoring systems. Established players that also significantly support the market in the region are GEA Group (Germany), Datamars (Switzerland), Serket (Netherlands), Peacock Technology Ltd (Scotland), Hokofarm Group (Netherlands), Fullwood JOZ (Netherlands), smaXtec animal care GmbH (Austria), and CowManager (Netherlands).

The report profiles key players such as include Merck & Co., Inc. (US), GEA Group (Germany), DeLaval (Sweden), Nedap N.V. (Netherlands), Afimilk Ltd. (Israel), BouMatic (US), Datamars (Switzerland), ENGS Systems (Israel), CowManager (Netherlands), and Dairymaster (Ireland). These players have adopted various organic and inorganic growth strategies such as product launches, expansions, acquisitions, partnerships, collaborations, agreements, and investments.

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Emerging Opportunities in AI-Driven Image Recognition and Video Analytics

The global AI-based image analysis market is projected to grow from USD 13.07 billion in 2025 to USD 36.36 billion by 2030, at a CAGR of 22.7% AI-based image analysis focuses on developing advanced imaging and analysis technologies using artificial intelligence. Progress in artificial intelligence (AI) and machine learning (ML) greatly improves the performance of AI-based image analysis solutions by increasing the accuracy and efficiency of the visual data processing system. In addition, cloud computing is bringing a revolution in the market by offering a scalable and flexible infrastructure to process large volumes of visual data. In cloud computing, AI-based image analysis plays an important role in image recognition and video surveillance applications. These applications require adequate computational power for training complex models. Thus, increasing use of cloud computing is acting as a major driving factor of the market by providing necessary infrastructure, scalability, and accessibility to speed up the development and deployment of AI vision technologies.

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By technology, the hybrid & other AI technologies segment is expected to witness the second-highest CAGR during the forecast period.

Hybrid and other emerging AI technologies represent a growing and innovative field within the AI-based image analysis market. Hybrid technologies refer to the integration of several AI approaches, such as a combination of deep learning with machine learning, and other AI technologies. In areas such as healthcare and defense, regulatory compliance and decision transparency are non-conventional, pushing vendors to models that integrate the high performance of intensive learning. In addition, Edge AI platforms and emerging quantum AI platforms expand the horizon of AI-based image analysis beyond traditional architecture. These hybrid solutions are particularly valuable in real-time environments, where flexible and adaptive AI systems are important.

By end-use industry, the automotive & transportation segment is likely to record the second-highest CAGR during the forecast period.

The automotive & transportation industry is integrating AI-based image analysis for applications such as rapid autonomous driving, driver monitoring system (DMS), traffic analysis, and smart fleet management. Advanced Driver Assistance Systems (ADAS) greatly rely on image-based sensors and AI algorithms to detect lanes, pedestrians, obstacles, and traffic signals. Additionally, AI-competent cameras are being deployed in logistics and fleet operations to monitor safety and operating efficiency. Connected vehicles also require real-time visual data processing, which in turn drives the demand for AI vision technologies in the automotive & transportation industry. In addition, the demand for efficient traffic management and future maintenance is motivating public and private transport systems to deploy AI-based image analysis solutions on a large scale.

North America is estimated to account for the largest share of the AI-based image analysis market in 2025.

The North American AI-based image analysis, comprising the US, Canada, and Mexico, is witnessing tremendous growth driven by technological advancement and growing adoption across diverse sectors such as healthcare, manufacturing, and retail & e-commerce. In the US, leading technology corporations, including Microsoft Corporation, NVIDIA Corporation, and Alphabet Inc., and government support are making tremendous advancements in AI-driven image analysis technologies. Government programs, including investments in research and development of AI, are fostering innovation and increasing the capabilities of AI-based image analysis solutions. These programs provide a platform for technical growth and market development. Canada's investment in computing equipment and AI research enhances the development and deployment of state-of-the-art AI-based image analysis technologies. Similarly, Mexico's investment in increasing infrastructure and supporting AI-centered firms contributes to the development of the market.

Key companies operating in the AI-based image analysis market include NVIDIA Corporation (US), Microsoft Corporation (US), Intel Corporation (US), Alphabet Inc. (US), Amazon.com, Inc. (US), IBM (US), Oracle (US), Cognex Corporation (US), ContextVision (Sweden), and GE Healthcare (US).

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North America TIC Market Size, Share, and Forecast Analysis

The North America TIC market is projected to grow from USD 69.89 billion in 2025 to USD 79.10 billion by 2030, at a CAGR of 2.5% from 2025 to 2030.

The North American TIC market is expanding steadily, driven by stringent regulatory frameworks from the Food and Drug Administration (FDA), Environmental Protection Agency (EPA), Federal Communications Commission (FCC), National Institute of Standards and Technology (NIST), and Occupational Safety and Health Administration (OSHA), as well as increasing product complexity across the automotive, medical device, electronics, and energy sectors. Increasing adoption of connected and software-driven products is accelerating demand for cybersecurity testing, digital validation, and interoperability certification. While large enterprises rapidly adopt advanced TIC solutions, smaller manufacturers face challenges in terms of cost and compliance readiness. Continued digitalization, remote inspection technologies, and EV and sustainability-related testing will fuel future market expansion in North America.

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“Testing services lead North America’s TIC market in 2025, driven by stringent regulatory compliance needs, with Inspection services following as the second-largest segment.”

Testing services are set to lead North America's TIC market in 2025. This growth is fueled by mandatory regulations from the FDA, EPA, FCC, OSHA, and NIST. These regulations require thorough product validation, safety assessments, and performance testing in various sectors, such as automotive, medical devices, electronics, aerospace, and energy. The increasing complexity of connected and software-enabled products also boosts the need for effective testing workflows. Inspection services make up the second-largest segment. This is due to infrastructure upgrades, industrial safety audits, and asset integrity needs across utilities, manufacturing, and the oil and gas industry.

“Medical & Life Sciences form the fastest-growing application segment in North America’s TIC market.”

The medical and life sciences sector is growing quickly in North America's TIC market as safety, reliability, and digital compliance regulations become stricter. The rise of connected medical devices, remote diagnostics, and software-based healthcare tools is increasing the need for validation, cybersecurity testing, and interoperability assessments. New advancements in biotechnology, clinical diagnostics, and therapeutic devices also boost the demand for third-party testing, quality assurance, and regulatory support. This makes Medical & Life Sciences the most active application segment in the region.

“The US leads the North America TIC market as the largest country segment due to its stringent regulatory environment and strong presence of advanced manufacturing industries.”

The US leads the North American TIC market, supported by its wide range of regulations enforced by several agencies, including the FDA, EPA, FCC, OSHA, and NIST. The country’s major industries, such as automotive, aerospace, medical devices, electronics, and energy, depend on thorough product testing, inspection, and certification to comply with safety and quality standards. The quick uptake of connected technologies, smart manufacturing, and advancements in EVs and batteries increases the need for specialized TIC services throughout the US market.

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Impact of Industry 4.0 on the Global Cellular Modem Market

The cellular modem industry size is valued at USD 4.8 billion in 2023 and is anticipated to be USD 12.4 billion by 2028, growing at a CAGR of 20.6% from 2023 to 2028. The key factors contributing to the growth of the cellular modem industry include High demand for smart home devices, and Strong preference for e-learning and online education. Cellular modems allows students and educators in areas with limited broadband access can participate in online classes, engage in live video lectures, and access interactive learning platforms.

By segment, cellular modem industry for embedded cellular modems segment grew at the fastest CAGR during the forecast period.

Embedded cellular modems are integrated directly into devices during the manufacturing process. These modems are designed to be integral to various electronic devices, such as smartphones, tablets, laptops, IoT devices, and industrial equipment. Embedded cellular modems provide seamless, always-on connectivity, allowing devices to access the internet, exchange data, and communicate with other devices or central servers. These modems are commonly found in consumer electronics, automotive systems, smart appliances, and industrial machinery, enabling these devices to connect to cellular networks and offer enhanced features to end-users.

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By segment, cellular modem industry for NB-IoT cellular modem segment holds the second highest market share during the forecast period.

Based on Narrowband IoT technology, NB-IoT cellular modems represent a significant advancement on the Internet of Things (IoT) landscape. These modems are engineered for low-power, wide-area IoT connectivity, making them ideal for applications that require long battery life and seamless coverage in challenging environments. NB-IoT technology operates in licensed spectrum bands, ensuring secure and interference-free communication.

Furthermore, NB-IoT cellular modems offer exceptional energy efficiency, enabling devices to operate on a single battery charge for years. This longevity is vital for applications such as smart meters, environmental sensors, and healthcare devices, where continuous, low-power operation is crucial. The modems provide reliable, bidirectional communication, allowing IoT devices to send data to the cloud and receive commands remotely. As the demand for IoT solutions continues to grow, NB-IoT cellular modems play a pivotal role in enabling scalable, cost-effective, and long-lasting connectivity for a wide array of IoT applications, ensuring seamless integration into the evolving IoT ecosystem.

By segment, cellular modem industry for healthcare segment to display highest CAGR during forecast period.

Cellular modems play a vital role in the healthcare sector, revolutionizing patient care, improving operational efficiency, and enhancing overall healthcare services. These modems enable secure and real-time communication, making them indispensable in various applications within healthcare facilities and remote patient monitoring.  One of the primary applications of cellular modems in healthcare is telemedicine and remote patient monitoring. Patients with chronic conditions or those in remote locations can use medical devices equipped with cellular modems to measure vital signs, such as blood pressure, heart rate, and glucose levels. The data is transmitted in real-time to healthcare professionals, allowing for continuous monitoring and timely intervention, thus improving patient outcomes and reducing hospital readmissions.

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Why the Asia Pacific Region is Leading Growth in the Ball Valves Industry

The global Ball valves industry size is expected to grow from USD 13.6 billion in 2023 to USD 17.0 billion by 2028, registering a CAGR of 4.6%. The ball valves market has witnessed significant growth attributed to increased industrialization, amplified demands from the oil & gas sector, water treatment, and expanding global infrastructure projects. Technological advancements and a focus on efficient fluid control systems have propelled this expansion.

By segment, ball valves industry for Stainless steel to hold the largest market share in the year 2022.

The global market for stainless steel ball valves has seen significant expansion owing to their enduring nature, resistance to corrosion, and versatility across industries like oil & gas, chemicals, and water treatment. Their reliability has driven heightened demand, establishing them as a crucial component in numerous sectors worldwide.

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By segment, ball valves industry for Trunnion-mounted to record the highest CAGR during the forecast period.

The evolution of Trunnion Mounted Ball Valves has surged owing to their resilient construction, guaranteeing steadfast functionality in high-pressure settings across diverse sectors such as oil and gas, petrochemicals, and power generation. Their reinforced sealing, enduring nature, and capacity to manage demanding environments have sparked heightened acceptance, delivered effective fluid regulation while mitigated potential leakage hazards in pivotal operations.

By segment, ball valves industry for 1”-5” segment to record the highest CAGR during the forecast period.

The growth trajectory of ball valves spanning sizes from 1”-5” has surged remarkably, propelled by their versatile utility across diverse industries. These valves are prized for their adeptness in managing fluid flow, ensuring reliable seals, and exhibiting robust durability. Widely embraced in sectors like oil, gas, water treatment, and chemical processing, their compact design, capacity to withstand high pressures, and ease of maintenance continue to fuel escalating demand in industrial applications.

By segment, ball valves industry for pulp & paper segment to record the highest CAGR during the forecast period.

Ball valves are pivotal in the Pulp & Paper industry for their reliability and durability in corrosive pulp processes. Withstanding harsh chemicals and high pressures, they ensure tight seals, preventing leaks critical in pulp production. As the industry seeks efficiency and reduced downtime, ball valves play a vital role, promoting continuous growth and innovation to meet evolving operational demands.

By region, ball valves industry in Asia Pacific is expected to grow at the highest CAGR from 2023 to 2028.

The Asia Pacific area has experienced a notable surge in ball valve adoption owing to its robustness, reliability, and effectiveness across industries like oil & gas, water treatment, and manufacturing. This increased usage is a result of the region's burgeoning infrastructure development and urbanization trends. Consequently, it has sparked substantial market growth, paving the way for pioneering advancements in valve technology within the region.

Key players operating in the Ball valves industry include Emerson Electric Co. (US), Flowserve Corporation (US), SLB (US), IMI (UK), Valmet (Finland), Crane Company (US), KITZ Corporation (Japan), Neway Valves Co. Ltd. (China), Spirax Sarco Limited (UK), Trillium Flow Technologies (US) and Others in the Ball valves industry.

For more info: https://www.marketsandmarkets.com/Market-Reports/ball-valve-market-80882742.html

[semiindustry]

Real-Time Testing and Validation Trends Powering Growth in the HIL Market

The hardware in the loop industry is estimated to be valued at USD 1,100.8 million in 2025 and is projected to reach USD 1,784.4 million by 2030, growing at a CAGR of 10.1% from 2025 to 2030. The growth of this market can be attributed to the adoption in new application areas such as power electronics and industrial robotics and technological advancements in electric and autonomous vehicles. An increasing trend of software-defined vehicle systems is leading to frequent use of HIL systems for continuous software integration and testing. The growth of Industry 4.0 and smart manufacturing is creating demand for HIL within robotics and industrial automation. The demand for economic evaluation of renewable energy systems and grid-connected inverters will also accelerate the market growth.

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Automobile vertical to have largest market size during forecast period.

The automobile sector is expected to be the largest segment of the hardware-in-the-loop (HIL) industry, as the complexity of modern vehicles increases, particularly due to electric drivetrains, advanced driver assistance systems (ADAS), and autonomous driving. HIL is critical to the rapid development, testing, and verification of electronic control units (ECUs) central to these developments. Automakers use HIL to reduce development cycles, verify functionality, and withstand rigorous safety and compliance audits. With the industry rapidly moving towards software-defined and connected vehicles, the need for reliable and scalable HIL platforms continues to accelerate.

Hardware segment expected to have largest market size during the forecast period.

Hardware like authentic sensors, actuators, and control units connect seamlessly with testing systems. It is poised to be the predominant offering in the HIL industry, providing more authentic operational testing environments. Several industries prefer a dedicated hardware setup based on reliability and durability in testing and the capacity for high-speed, real-time simulations without latency. As the needs of testing continue to shift toward application testing needs, the use of customized hardware configurations will naturally evolve. The trend of hardware as a market offering will be fueled by continued advancements in compact and modular hardware systems that can scale across various testing environments.

China to be largest market for hardware in the loop in Asia Pacific.

With its powerful automotive industry and heavy investment in electric vehicle (EV) production, China is expected to account for the largest share of the hardware-in-the-loop (HIL) industry in the Asia Pacific Region. In March 2022, BAIC Motor and Hyundai secured a joint venture by investing USD 942 million in the construction of a new EV manufacturing facility in China. This exemplifies China's determination to advance automotive technologies. This expansion will require further testing solutions like HIL systems for electronic control units (ECUs). Thus, China's focus on EV development and automotive advancement will make the country a powerful market force in the regional HIL industry.

The report profiles key players such as dSPACE GmbH (Germany), Emerson Electric Co. (US), Vector Informatic GmbH (Germany), Elektrobit (Germany), OPAL-RT Technologies (Canada), Speedgoat GmbH (Switzerland), Robert Bosch GmbH (Germany), IPG Automotive GmbH (Germany), Acutronic Holding AG (Switzerland), Plexim GmbH (Switzerland), and Konrad GmbH (Germany).

[semiindustry]

Vertical Farming Ecosystem: Technologies, Players, and Future Scope

The global vertical farming industry was valued at USD 5.6 billion in 2024 and is projected to reach USD 13.7 billion by 2029; it is expected to register a CAGR of 19.7% during the forecast period. Agriculture IoT and AI technology, high urbanization, and a push for the necessity of vertical farming by consumers are prominent drivers for the vertical farming market. These factors include; scarcity of land especially one that is suitable for cultivation, climatic change, and an increasing demand for fresh and organically grown fruits and vegetables. Thus, more governments’ support and investment and the concerns about food security, driving the vertical farming industry.

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Hardware segment to account for the largest market share in the forecasted year.

The hardware segment is claimed to have the biggest share in the vertical farm industry owing to their role as a necessity for managing climate for plant crops. This segment consists of the lighting, water and nutrient supply, environmental control and other instruments, which are important in the hydroponic system. Amongst these, the most profound has been observed in the area of lighting; LED lighting systems are crucial in providing the right light intensities needed for the growth of plants while conserving energy to the maximum. Additionally, an advanced means for controlling climate parameters such as temperature, humidity and CO2 level ensures optimum growing conditions all year round. Therefore, with the fresh food and local, sustainable products gaining interest constantly, the hardware solutions market should also continue to rise steadily thus confirming the key role played by the hardware segment on the vertical farming industry.

Building-based vertical farms likely to dominate the overall market between 2024 and 2029.

There are several reasons why the building based vertical farm structures has been made to dominant the main actors of the overall vertical farm industry. First of all, they allow being placed in any location no matter what climatic conditions in this area or outside are. This makes them particularly adequate for any country or part of the world that faces issues of conventional farming such as deserts or cities. Second of all, high efficiency is peculiar to the building-based VFs because those constructions may fit the use of water, space, and energies in the best way. Such farms can therefore be able to generate more yields per unit of area and this is because of vertical stacking.

North America is expected to hold the significant share of the vertical farming industry during the forecast period.

North America is anticipated to have significant market share in vertical farming owing to several factors, which would increase the acceptance and feasibility of this concept. This growth is attributed specifically to the emerging market pull for fresh localized produce, which is in line with the farm-to-table concept that is steadily gaining ground the world over. The U. S remains the most dominant in this market because of the strong support in funding for vertical farming technologies, favorable regulatory framework, and higher economic status to support venture capital funding. Also, issues like population density, limited availability of land for cultivation, and changes in climate over the years make vertical farming the best solution in the region. Biologging industry leaders such as AeroFarms and Plenty are at the forefront of revolutionizing hydroponics and automating them, a factor that will impact the growth of the sector. As such, these factors render the North American region relevant to continue dominating the vertical farming industry.

Key Players

The key companies that offer vertical farming industry include Signify (Netherlands), Freight Farms (US), AeroFarms (US), Sky Greens (Singapore), Spread (Japan), Plenty (US), Valoya (Finland), Osram (Germany), Everlight Electronics (Taiwan), and Heliospectra AB (Sweden). 

[semiindustry]

Industrial Edge Platforms Driving Next-Generation Industrial Automation

The global industrial edge industry is expected to grow from USD 21.19 billion in 2025 to USD 44.73 billion in 2030, with a CAGR of 16.1%. Rising need for real-time data processing, automation, and operational efficiency across manufacturing, energy, healthcare, and transportation propels this growth. Examining data closer to the source, industrial edge computing helps to lower latency, enhance decision-making, and incorporate new technologies such as IoT, artificial intelligence, and machine learning. Under Industry 4.0, these skills are very vital for enabling predictive maintenance, optimizing operations, and supporting smart manufacturing projects. The growth of networked devices and the need to manage massive amounts of data are driving adoption even further as businesses strive to tackle problems like data overload, network congestion, and the need for faster insights. Edge hardware, artificial intelligence-driven analytics, and 5G connectivity are enabling autonomous operations even in demanding environments by boosting system performance. Emphasizing cybersecurity and data privacy, edge computing is also being employed as it ensures regulatory compliance and lowers data breach risk. Driven by the need for faster, safer, more intelligent industrial processes, the industrial edge market is poised for significant growth as industries put high importance safety, efficiency, and reasonably priced solutions.

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Software is expected to grow with a significant growth rate in the industrial edge industry during the forecast period

Driven by increasing need for real-time data processing, AI-driven analytics, and edge-based automation, edge software is expected to expand at a substantial growth rate in the industrial edge industry throughout the projected period. As industries focus on improving operational efficiency and reducing cloud dependency, edge software makes predictive maintenance, intelligent data orchestration, faster decision-making possible. Edge computing capability is enhanced by merging IoT, artificial intelligence, and machine learning, thereby enabling companies to manage vast amounts of data locally while keeping security and regulatory compliance. As Industry 4.0 and digital transformation initiatives are being accepted, companies are increasingly making investments in advanced edge software solutions to simplify processes, increase scalability, and optimum resource consumption. The growing need for safe, low-latency computing drives demand even more, therefore edge software is becoming a main driver of industrial automation and efficiency throughout the projected period.

Automotive industry to lead growth in industrial edge industry, driven by high CAGR and demand for smart manufacturing solutions.

The automotive industry is anticipated to experience the highest CAGR in the industrial edge industry during the projection period, driven by edge computing for smart manufacturing, real-time analytics, and autonomous vehicle development. With the automotive sector's adoption of digital transformation, edge computing becomes increasingly critical in order to facilitate quicker data processing, reduced latency, and enhanced operational efficiency.

Asia Pacific is expected to grow with the highest CAGR in the industrial edge industry during the forecast period.

The industrial edge industry is anticipated to experience the highest CAGR growth in the Asia Pacific region during the forecast period, which is attributed to the rapid industrialization, the increasingly widespread adoption of advanced technologies, and a strong emphasis on digital transformation. Edge computing solutions are being implemented by industries in China, India, Japan, and South Korea to improve operational efficiency, facilitate real-time data processing, and support smart manufacturing initiatives. These countries are at the vanguard of this growth. The region's manufacturing sector is rapidly expanding, and the proliferation of IoT devices, in conjunction with the rise of Industry 4.0, is generating a substantial demand for industrial periphery solutions. Government initiatives supporting smart cities, industrial automation, and 5G infrastructure development also help to speed the acceptance of edge computing. Achieving an impressive CAGR worldwide, the Asia Pacific region is positioned to dominate the industrial edge market with its huge industrial base, rising technical breakthroughs, and rising expenditures in automation.

Major companies operating in the industrial edge industry include Hewlett Packard Enterprise Development LP (US), IBM (US), Amazon Web Services, Inc. (US), Dell Technologies (US) and Cisco Systems, Inc. (US).

For more info: https://www.marketsandmarkets.com/Market-Reports/industrial-edge-market-195348761.html

[semiindustry]

Future of the Hydrogen Sensor Market: Trends, Growth Drivers, and Opportunities

The hydrogen sensor market is projected to reach USD 0.16 billion by 2032 from USD  0.08 billion in 2026, at a CAGR of 12.2% during the forecast period. 

The global hydrogen sensor market is experiencing significant growth as the adoption of hydrogen as a clean energy source continues to increase across industries worldwide. This growth spans sectors such as energy, oil & gas, chemicals, automotive, and power generation. A key factor driving this trend is the rising need for reliable hydrogen leak detection to ensure safety, regulatory compliance, and operational efficiency. As a result, industries are increasingly deploying hydrogen sensors across various applications, including hydrogen production plants, storage facilities, pipelines, and fuel cell systems. Furthermore, the integration of IoT-enabled monitoring, AI-driven analytics, and advanced sensing technologies is improving detection accuracy, reducing response times, and enabling scalable safety systems. Additionally, growing investments in hydrogen infrastructure, clean energy initiatives, and decarbonization strategies, along with continuous product innovations and strategic initiatives by leading manufacturers, are expected to support the steady and long-term growth of the global hydrogen sensor market.

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The global hydrogen sensor market is characterized by continuous technological advancements and evolving product development cycles, driven by increasing demand for higher sensitivity, faster response times, and improved selectivity in hydrogen detection. Leading manufacturers are consistently introducing advanced sensing technologies such as electrochemical, metal oxide semiconductor (MOS), and optical to enhance performance and reliability. Progress in digital monitoring, automation, and IoT-enabled solutions is a key enabler of this innovation, allowing real-time gas detection, predictive maintenance, and improved safety management. This rapid pace of development is encouraging end users to upgrade and deploy advanced hydrogen sensing systems to enhance safety, reduce operational risks, and improve efficiency, resulting in a dynamic and increasingly competitive global hydrogen sensor market landscape.

The US hydrogen sensor market represents a significant share of the North American market, driven by strong investments in hydrogen infrastructure, advanced industrial capabilities, and increasing adoption across sectors such as energy, oil & gas, chemicals, and transportation. Organizations in the US are at the forefront of deploying advanced hydrogen sensing technologies to ensure safety, regulatory compliance, and operational efficiency across hydrogen production, storage, and fuel cell applications. The presence of leading technology providers and strong innovation ecosystems enables continuous advancements in high-sensitivity, fast-response hydrogen sensors integrated with IoT and AI-driven monitoring systems. Regulatory frameworks related to safety standards, emissions control, and hydrogen handling also play a crucial role in shaping sensor adoption across industries. Additionally, increasing investments in clean energy initiatives, hydrogen hubs, and decarbonization strategies, along with a focus on safety and digitalization, are strengthening the US market position and supporting continued growth in the hydrogen sensor market.

The automotive & transportation segment has experienced significant growth in the hydrogen sensor market due to increasing adoption of hydrogen fuel cell electric vehicles (FCEVs) and the expansion of hydrogen refueling infrastructure. Hydrogen sensors are widely used in vehicles, storage tanks, and refueling stations to ensure safe detection of leaks and continuous monitoring of hydrogen levels. Their compact design, fast response time, and high sensitivity make them ideal for integration into fuel cell systems and onboard safety mechanisms. Additionally, the growing demand for zero-emission mobility solutions and stringent safety regulations are driving the deployment of advanced hydrogen sensing technologies in this segment. Hydrogen sensors help enhance vehicle safety, enable efficient system performance, and support real-time monitoring, reducing risks associated with hydrogen usage. As investments in hydrogen mobility and infrastructure continue to rise, the automotive & transportation segment is playing a key role in accelerating the adoption and growth of the hydrogen sensor market.

The 1,000–10,000 ppm detection range is expected to account for a significant share of the hydrogen sensor market due to its critical role in ensuring effective leak detection and operational safety across industrial and energy applications. This range is particularly important for detecting moderate to high hydrogen concentrations commonly observed in hydrogen production plants, storage systems, pipelines, and fuel cell environments. It directly influences system safety by enabling the timely detection of leaks before they reach hazardous levels, making it a preferred range across multiple sensor technologies. Increasing safety regulations and the need for reliable monitoring in high-risk environments are driving demand for sensors operating within the 1,000–10,000 ppm range. Additionally, continuous advancements in sensing technologies are enhancing accuracy, response time, and stability within this range, improving overall system performance. Its suitability for diverse industrial conditions and ability to balance sensitivity with operational robustness further support widespread adoption, reinforcing its dominant position in the hydrogen sensor market.

For more info: https://www.marketsandmarkets.com/Market-Reports/hydrogen-sensor-market-58762774.html

[semiindustry]

OLED-on-Silicon Technology Revolutionizing Smart Glasses and Head-Mounted Displays

The OLED-on-Silicon (OLEDoS) industry is expected to reach USD 2,352 million by 2029 from USD 534 million in 2024 at a CAGR of 34.5%, from 2024 to 2029. Growing adoption of oledos displays in ar/vr hmds, superior picture quality and energy efficiency, increasing demand for high-resolution microdisplays, and increasing investment in the oledos ecosystem are some of the major factors contributing to the growth of OLED-on-Silicon (OLEDoS) market. Moreover, opportunities such as growing consumer electronics industry, advancement in OLED material technology, and expanding applications across various industries to drive the demand of OLED-on-Silicon (OLEDoS) and drive the market growth.

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HMDs to dominate the Near-eye display segment of the market during forecast period.

Head Mounted Displays (HMDs) account for the largest share in the Near-eye Display segment of the OLED-on-Silicon (OLEDoS) market due to several reasons. The current growth in adoption of virtual reality and augmented reality technologies has triggered demand for HMDs, driven by high-resolution and high contrast displays from OLEDoS technology. In addition, the integration of OLEDoS displays in HMDs empowers enhanced user experience in terms of better image quality, improved response time, and low latency, making them quite suitable for a number of immersive applications. With their Vision Pro HMD, established players like Apple are aggressive about investing in the development of high-end HMDs equipped with such advanced display solutions, thereby driving the market growth. The growing use of HMDs in various sectors, including gaming, medical, and industrial training, further solidifies their dominant position in the Near-eye Display market.

Industrial & Enterprise to register highest CAGR in the market during forecast period.

The Industrial & Enterprise vertical segment in the OLED-on-Silicon (OLEDoS) industry is experiencing significant growth for several reasons. First and foremost, OLEDoS displays will help provide excellent image quality, a high contrast ratio, and low power consumption things that become quite necessary industrially, where visual information needs to be available precisely for a longer time in operations. As such, the reason for the growth in demand from the application markets will be due to the adoption of OLEDoS technology in devices such as AR headsets and smart glasses, enabling better productivity and accuracy in workflows within manufacturing, logistics, and field services. In addition, the adoption of OLEDoS displays will be driven by demand for advanced diagnostic and monitoring tools within enterprise environments that make clearer, more detailed visuals necessary for complex data analysis and real-time decision making. In addition, growing investments in digital transformation and smart factory initiatives drive the implementations of OLEDoS-based solutions and thereby driving the growth of OLEDoS displays in the industrial and enterprise sectors.

Europe to register the significant growth during the forecast period.

The growth rate of the OLEDoS industry across Europe is significantly increasing, which can be attributed to a various factor. Europe is home to many leading research institutions and technology companies working towards the innovation of OLEDoS technology. Fraunhofer Institute and Aixtron SE are amongst the most prominent institutions engaged in the research and development activities of the OLEDoS. Also, the strong concentration of leading automotive and aerospace industries in Europe, along with many major adopters of OLEDoS displays for applications in heads-up displays and cockpit systems, would fuel market growth. Active government initiatives and funds for encouragement in the area of advanced display technologies, along with support to semiconductors, act as a booster to the OLEDoS market. Another factor is that increasing demand for high-performance displays, primarily in the medical, consumer electronics, and industrial application industries, which are increasingly adopting OLEDoS technology in Europe.

Sony Semiconductor Solutions (Japan), Seiko Epson Corporation (Japan), eMagin (US), BOE Technology Group Co., Ltd. (China), SeeYA Technology (China), Kopin Corporation (US), LG Display Co. Ltd. (South Korea), MICROOLED (France), Lakeside optoelectronics technology (jiangsu) Co., Ltd. (China), Semiconductor Integrated Display Technology Co., Ltd. (China). These players have adopted various organic and inorganic growth strategies such as services launches, partnerships, collaborations, acquisitions, and joint ventures.

[semiindustry]

Frequency Sources & Related Components Segment Leads Millimeter Wave Technology Market

The millimeter wave technology industry is projected to grow from USD 3.0 billion in 2024 to USD 7.6 billion by 2029, registering a CAGR of 20.1% during the forecast period. The market growth is increase in broadband and mobile speeds and emergence of autonomous vehicles. Furthermore, rising use of V-band millimeter waves for last-mile connectivity is expected to create lucrative opportunities for the market.

The frequency sources & related components segment is expected to account for the largest share of the millimeter wave technology industry in 2024.

A prominent industry for millimeter wave technology is that of frequency sources and related components. Devices that produce signals between 30 GHz and 300 GHz are known as oscillator source devices, along with associated components. The types of frequencies used in component manufacture determine how effective the signals produced by millimeter wave systems are. High frequency direct oscillators are frequently insufficient to suit the needs of most systems. The high frequencies needed by millimeter wave devices are produced by multiplying the frequencies of low-frequency oscillators in order to overcome this problem.

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The 57-95 GHz frequency band segment is expected to account for the largest share of the millimeter wave technology industry in 2024.

The 57-95 GHz segment accounted for the largest share of the millimeter wave technology market in 2024, and a similar trend is expected to be witnessed during the forecast period. Mobile carriers are using a Heterogeneous Network (HetNet) architecture of macro and small cells—which may rely on 3G, 4G, and 5G—in telecommunication applications. HetNet backhaul can benefit from millimeter bands like V-band (60 GHz) and E-band (70/80 GHz) since they enable traffic aggregation from several base stations into an access network. This traffic can then be routed to mobile switching centers and ultimately the core network. 5G is well suited to be supported by backhaul networks that use the V-band or the E-band because of their 10 Gbps to 25 Gbps data throughput capabilities. Due to its wide range of applications, including traffic monitoring, automated cruise control, security and perimeter protection, autonomous mining, and more, this industry is dominated. Telecommunications applications are the primary purpose for the E-band and V-band, which are located in the 57-95 GHz frequency range. It is anticipated that this element would further solidify this frequency band's supremacy.

The Asia Pacific market is expected to witness the highest CAGR in the millimeter wave technology industry during the forecast period.

Over the course of the projection period, Asia Pacific is expected to have the greatest CAGR. The main countries in Asia Pacific that are driving the growth of the millimeter wave technology industry are China, India, South Korea, and Japan. One of the major regions driving the millimeter wave technology market's expansion is Asia Pacific. From 2024 to 2029, this region's market is expected to develop at the fastest rate, owing to the increased adoption of millimeter wave technology in telecommunication equipment and mobile and telecom applications. In Asia Pacific, the key telecommunication equipment providers, including Huawei Technologies and ZE, have signed more than 100 5G commercial deals with leading global operators from January 2019 to April 2022. The increasing adoption of millimeter wave technology in industrial applications such as industrial automation is expected to accelerate the deployment of 5G networks in China. These networks are expected to act as a single wireless access channel for large industrial facilities instead of using different short-range wireless standards. This, in turn, is anticipated to minimize signal interferences.

Key players in the millimeter wave technology companies include Axxcss Wireless Solutions (US), NEC Corporation (Japan), Ceragon (Isarel), L3Harris Technologies, Inc. (US), Aviat Networks (US), Smiths Group plc (UK), Eravant (US), Farran (Ireland), Keysight Technologies (US), Ducommun Incorporated (US), and Millimeter Wave Product, Inc, (US), and among others.

[semiindustry]

Hardware in the Loop Technology Enhancing ECU Validation and Vehicle Safety Testing

The hardware in the loop industry is estimated to be valued at USD 1,100.8 million in 2025 and is projected to reach USD 1,784.4 million by 2030, growing at a CAGR of 10.1% from 2025 to 2030. The growth of this market can be attributed to the adoption in new application areas such as power electronics and industrial robotics and technological advancements in electric and autonomous vehicles. An increasing trend of software-defined vehicle systems is leading to frequent use of HIL systems for continuous software integration and testing. The growth of Industry 4.0 and smart manufacturing is creating demand for HIL within robotics and industrial automation. The demand for economic evaluation of renewable energy systems and grid-connected inverters will also accelerate the market growth.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=11343527

Automobile vertical to have largest market size during forecast period.

The automobile sector is expected to be the largest segment of the hardware-in-the-loop (HIL) industry, as the complexity of modern vehicles increases, particularly due to electric drivetrains, advanced driver assistance systems (ADAS), and autonomous driving. HIL is critical to the rapid development, testing, and verification of electronic control units (ECUs) central to these developments. Automakers use HIL to reduce development cycles, verify functionality, and withstand rigorous safety and compliance audits. With the industry rapidly moving towards software-defined and connected vehicles, the need for reliable and scalable HIL platforms continues to accelerate.

Hardware segment expected to have largest market size during the forecast period.

Hardware like authentic sensors, actuators, and control units connect seamlessly with testing systems. It is poised to be the predominant offering in the HIL industry, providing more authentic operational testing environments. Several industries prefer a dedicated hardware setup based on reliability and durability in testing and the capacity for high-speed, real-time simulations without latency. As the needs of testing continue to shift toward application testing needs, the use of customized hardware configurations will naturally evolve. The trend of hardware as a market offering will be fueled by continued advancements in compact and modular hardware systems that can scale across various testing environments.

China to be largest market for hardware in the loop in Asia Pacific.

With its powerful automotive industry and heavy investment in electric vehicle (EV) production, China is expected to account for the largest share of the hardware-in-the-loop (HIL) industry in the Asia Pacific Region. In March 2022, BAIC Motor and Hyundai secured a joint venture by investing USD 942 million in the construction of a new EV manufacturing facility in China. This exemplifies China's determination to advance automotive technologies. This expansion will require further testing solutions like HIL systems for electronic control units (ECUs). Thus, China's focus on EV development and automotive advancement will make the country a powerful market force in the regional HIL industry.?

The report profiles key players such as dSPACE GmbH (Germany), Emerson Electric Co. (US), Vector Informatic GmbH (Germany), Elektrobit (Germany), OPAL-RT Technologies (Canada), Speedgoat GmbH (Switzerland), Robert Bosch GmbH (Germany), IPG Automotive GmbH (Germany), Acutronic Holding AG (Switzerland), Plexim GmbH (Switzerland), and Konrad GmbH (Germany).