Month: July 2020

The global commercial refrigeration equipment market generated a value of $41,396.7 million and is expected to advance at a 6.2% CAGR during the forecast period (2018–2023). The market is witnessing growth due to the rising demand for ready-to-eat products and beverages and development of organized retail. The freezers and refrigerators that are utilized for storage, merchandizing, and commercial retail within hypermarkets, convenience stores, supermarkets, restaurants, and other commercial spaces are referred to as commercial refrigeration equipment.

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In terms of equipment type, the commercial refrigeration equipment market is divided into display cases, transportation refrigeration equipment, ice making machineries, beverage refrigeration, walk-in coolers, parts, and other equipment (which include vending machines, cryogenic equipment, and liquid chiller). Among these, the walk-in cooler division dominated the market during the historical period (2013–2017), holding a share of 23.0% in 2017, in terms of value.

The division is further classified into remote plant, packaged unit, and remote condensing unit. The beverage refrigeration division is expected to grow at the fastest pace during the forecast period. When application is considered, the commercial refrigeration equipment market is categorized into food & beverage retail, food service, food & beverage distribution, and others (which include genetic refrigeration, medical diagnostic applications, and pharmacy refrigeration).

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Out of these, the food service category accounted for the major share of the market during the historical period and is further expected to retain its position during the forecast period, in terms of value. On the other side, developing countries in Asia-Pacific (APAC) have not yet phased out F-gases, because manufacturers here are yet to get their hands on advanced technology for F-gas elimination. But, considering the CAGR forecasted in the region (9.3% in terms of revenue), it is being assumed that manufacturers will be able to acquire the technology and do away with F-gases.

Everyone understands the importance of signing a document or a message. A signature legally binds the person to follow the clauses written in a document, going against which can lead to serious charges against the person, if the matter is serious of course. These days, because of technological advancements, governments across the globe are focusing on reducing the usage of paper, and are, in turn, turning to paperless, digital solutions. This includes making documents available on a digital platform rather than printing them on paper.

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Attributed to this, the governments are increasingly making use of electronic signatures (e-signatures) for authenticating the validity of a document. An e-signature is the process of attaching an encoded signature to an electronic document. These signatures are legally binding on the basis of the U.S. Electronic Signatures in Global and National Commerce Act, implemented by Congress in 2000. This has enabled companies to improve their process and has also resulted in significant cost reductions.

E-signatures further make the processes swift as the need for signing, faxing or scanning, and filing documents is eliminated, saving time and cost. Because of these reasons, the adoption of e-signatures is increasing, thereby resulting in the growth of the e-signature market. Different types of e-signatures are public key infrastructure (PKI), username and pin, signature pad at point of sale (POS), clickwrap, and voice signature.

In the past, PKI was the most in demand, which is ascribed to the rising focus of businesses on data authenticity and security, expanding e-commerce sector, and increasing government initiatives for supporting e-bidding and digitization. The rapid growth of the e-commerce sector is further predicted to result in the growing requirement for signature pad at POS in the coming years. 

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In addition to this, because of the growing e-commerce sectors, surging security concerns, and increase in the number of online transactions, unmediated use case is expected to be the most in use. The process does not need any external assistance for the filling of a form since this is self-service online transactions for retail shopping and for the purchase of commoditized insurance.

The global integrated passive device market is expected to register high growth during the forecast period, with the market projected to reach from $901.5 million in 2016 to $1,572.3 million by 2023, witnessing a CAGR of 8.4% during 2017-2023. Integrated passive devices are widely used for applications such as digital and mixed signals, LED lighting, RF applications and ESD/EMI protection.

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Of them, the digital and mixed signal applications led the market in 2016, and is expected to remain the largest market during the forecast period as well, majorly on account of the increased electrical performance requirements. Baluns are expected to contribute the largest revenue to the global IPD market throughout the forecast period. Anticipated supremacy of the baluns segment can be attributed to their extensive utilization in almost all applications, where these devices are being used.

Based on type, the market is categorized into ESD, EMI, RF-IPD and LEDs, of which RF-IPD contributed the largest to the global IPD market. Augmenting demand for miniaturization is one of the major factors spearheading RF-IPD’s growth in the global IPD market. Among regions, Europe, Middle-East and Africa (EMEA) are expected to contribute the highest revenue to the global integrated passive device market during the forecast period. Existence of fabrication and IPD manufacturers are the major factors responsible for the growth of IPD market in Europe.

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The research states that the overall intensity of rivalry is moderate in the global integrated passive devices market. It has been observed that large number of industry players exist in EMEA, especially in Europe. The integrated passive device market is highly fragmented in EMEA due to which the market is extremely competitive in the region. The major players operating in this market include On Semiconductor, Stats ChipPAC, STMicroelectronics, Murata-IPDiA, Johanson Technology, Onchip Devices, AFSC and Infineon.

In the education sector, the students and teachers are shifting rapidly toward digital learning. This has been made possible due to technological advancements, which have further made the creation of an interactive classroom easier. Because of these aspects, the demand for interactive display, which is an electronic display that allows the user to control the screen data through digital touchscreen interactions utilizing as stylus pen or their fingertips, is rising in the education sector.

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The technology allows teachers to create lessons that are integrated with gamified elements, video clips, mixed media, and other elements with ease and minimum preparation and planning. Governments of different countries are also becoming more inclined toward improving their educational system by implementing new technologies; this is further driving the requirement for interactive display.

As per a study conducted by P&S Intelligence, the global interactive display market generated a revenue of $9.2 billion and is expected to attain a value of $16.4 billion in 2024, registering a 10.4% CAGR during the forecast period (2019–2024). The two types of technologies on which interactive displays are based are light-emitting diode (LED) and liquid crystal display (LCD).

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During 2014–2018, the larger demand was created for LCD interactive displays and the situation is projected to remain the same in the coming years as well. The fastest growth in demand is expected to be created for interactive flat panel during the forecast period due to its rising requirement in the education sector, primarily in countries including Turkey, the U.S., and China.

The increasing usage of consumer electronic devices is one of the major factors propelling the demand for light sensors across the world. In various consumer electronic devices such as smartphones and tablets, several features like automatic screen brightness control require the sensing of light. 1.4 billion smartphones were sold throughout the globe in 2019 and this number is expected to increase to 1.6 billion by 2040.

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Owing to the mushrooming demand for these devices from the younger population, especially the millennials. Moreover, the soaring population in several countries will further boost the demand for customer electronic devices across the world.
Due to these factors, the global light sensor market attained a valuation of $1,456.2 million in 2019 and is predicted to advance at a CAGR of 9.5% during the forecast period (2020–2030). Light sensors are extensively used for proximity detection, ambient light sensing, RGB (red, green, and blue) color sensing, infrared radiation (IR) detection, and gesture recognition.

Amongst these, the ambient light sensing applications are expected to record the highest use of light sensors during the forecast period. This would because of the rising utility of this function in the healthcare and automotive sectors around the world. The light sensors produce the output in two forms — digital and analog. Of these, the light sensors equipped with digital output displays record higher demand, owing to their wide application in ADAS systems.

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Light sensors are widely used in consumer electronics, industrial, automotive, healthcare, and entertainment sectors. Out of these sectors, the automotive sector is predicted to observe the highest growth in the usage of light sensors in the coming years. This is mainly attributed to the increasing incorporation of advanced driver assistance systems (ADAS) in automobiles, which require light sensors for park assist, light sensing, and several other applications.