Outlook of the global RFID smart cabinet market
Technavio’s market research analyst predicts the global RFID smart cabinet market to grow steadily at a CAGR of around 14% during the forecast period. The increasing need for inventory management in hospitals is the primary growth driver for this market. RFID smart cabinets provide accurate, real-time tracking at the item level. They also eliminate the risk of stock-outs, reduce inventory waste, and prevent shrinkage, and equipment losses. Due to these benefits, numerous hospitals from across the globe have started to adopt RFID smart cabinets as they help in the efficient tracking of their supplies at the item level.
The high adoption of RFID smart cabinets in emerging countries will impel the prospects for growth in this market during the forecast period. The advent of private healthcare establishments and the rising adoption of healthcare information technologies in developing countries, such as India, China, and Brazil, have led to the augmented adoption of RFID smart cabinets in hospitals during the forecast period.
Application-based segmentation of the RFID smart cabinet market
- Others (retailers, discrete manufacturers, and organizations)
The healthcare application segment will be the largest market for RFID smart cabinets during the forecast period and will account for an impressive market share of around 90% until 2020. Much of this segment’s growth can be attributed to the increasing need for inventory management in hospitals. In this sector, RFID smart cabinets help to reduce shrinkage and improves the overall supply chain performance.
Geographical segmentation of the RFID smart cabinet market
Outlook of the global EMV cards market
Technavio’s market research analyst predicts the global EMV cards market to grow steadily at a CAGR of around 17% during the forecast period. The increase in regulatory intervention in electronic payment systems by governments of developing and developed nations is the primary growth driver for this market. Governments in these countries have imposed regulations for the recertification of electronic payment systems deployed by the merchants or retailers and have made it mandatory for them to have EMV compliance. Due to the EMV liability shift rule, consumers have been compelled to migrate from their traditional magnetic strip cards to EMV-enabled cards. This increase in the demand for EMV cards is expected to increase over the next few years owing to the high confidentiality and critical nature of financial data.
The rising adoption of electronic purses will impel the prospects for growth in this market during the forecast period. An electronic purse is similar to an EMV card as it allows users to carry out their monetary transactions as a credit or debit card. These purses help to eliminate the need for carrying cash and aid consumers in keeping their money safe. The analysts at Technavio have observed that the augmented adoption of electronic purses will, in turn, spur growth in the EMV cards market until 2020.
Technological segmentation of the EMV cards market
- Contactless EMV cards
- Contact-based EMV cards
In 2015, the contact-based EMV cards technology segment dominated the market and accounted for approximately 83% of the total market share. The lack of awareness among customers about the features and security offered by contactless EMV cards has helped to foster the growth of the contact-based EMV cards market.
Geographical segmentation of the EMV cards
Global outlook of the head-mounted display (HMD) market
Technavio’s market research analysts have predicted that the global head-mounted display (HMD) market will grow tremendously during the forecast period and post a CAGR of almost 49% by 2020. Technological advancements such as the development of high-resolution HMDs, 3D viewing, and integration of augmented reality and virtual reality will lead to the increased demand for HMDs in the consumer electronics sector. These advancements and upgrades are aimed at enhancing user experience in gaming and entertainment. This will fuel the growth of the market during the forecast period. Moreover, the continuous demand for HMDs from the defense sector for various applications such as training and simulation, imaging, and tracking will also aid in the growth of the head mounted displays market.
A major share of the market growth can be attributed to the growing applications for virtual reality (VR) in gaming. Companies such as Oculus Rift, Microsoft, and Sony have introduced advanced virtual reality HMDs with features that include an extensive field of view and a quick response mechanism with advanced 3D rendering capabilities, exclusively for gaming applications. Such innovations will attract more customers to the VR gaming segment and will be one of the major trends that will gain traction in this market during the predicted period.
Competitive landscape and key vendors
With respect to consumer acceptance, the global HMD market is still in its nascent stage. Vendors in the market mainly cater to the needs of the defense sector and are
Semiconductor laser systems are used to generate a highly concentrated monochromatic beam of light with a particular wavelength. These systems find extensive application in the healthcare industry for medical diagnosis, therapy, and cosmetic procedures. It is also beneficial for patients receiving orthodontic care. By using a specialized diode laser, excess gum tissue can be safely removed to expose a larger portion of the tooth for better aesthetics and function.
The report, global semiconductor laser treatment market, is part of Technavio’s hardware and semiconductor research portfolio. This portfolio provides a comprehensive market analysis along with the market share, market sizing, and market segmentations covering areas such as computing devices, displays, embedded systems, human machine interface, lighting, semiconductor equipment, and sensors. These market research reports provide a perspective on the various market opportunities and market threats along with the key trends that would influence the market growth during the forecast period. It presents insights into the changing competitive landscape and a detailed profiling and market analysis of the vendors. Also covered in the research are the key regions or countries that would have an impact on the market during the assessment years.
Outlook of the global exhaust pressure sensor market
Technavio’s market research analyst predicts the global exhaust pressure sensor market to grow moderately at a CAGR of almost 2% until 2020. The advent of stringent rules for vehicle emission control has compelled automotive manufacturers to install emission control sensors in all their vehicles. This, in turn, has triggered growth in the global market for exhaust pressure sensors during the forecast period. Furthermore, with the growing demand for passenger cars and vehicle automation, the market for exhaust pressure sensors will have a positive outlook until 2020.
The recent rise in the demand for passenger cars will impel the prospects for growth in the global exhaust pressure sensor market during the forecast period. Recently, it has been observed that regions like APAC, North America, Central Europe, and Western Europe are currently experiencing a high demand for passenger cars due to factors like the increase in income, purchasing power parity, and urbanization. This increase in the demand for passenger cars will, in turn, necessitate the implementation of exhaust pressure sensors.
Geographical segmentation of the exhaust pressure sensor market
At present, the APAC region dominates the global market for exhaust pressure sensors and is expected to continue its market dominance during the forecast period. Countries such as China, India, and Japan are contributing towards the growth of this market. Some of the big automakers, such as Ford, Mercedes-Benz, and Volkswagen, are planning to expand their manufacturing facilities to India as it will help them to bridge the supply-demand gap in the Indian market. This recent shift in the manufacturers’ facilities will aid in the steady growth of the market in
Outlook of the global data converter market
Extensive research carried out by the analysts at Technavio has shown that the global data converter market will grow at CAGR of nearly 6% over the predicted period. Data converters are widely used in consumer electronic devices like smartphones and tablets. Functions such as image processing, touch sensitivity, call signal processing, network signal processing, and video calling require the use of data converters. In addition, the integration of features such as gesture and voice command in the consumer electronic devices require data converters in the back-end. Owing to the high penetration of Smart TVs in emerging markets like Asia-Pacific, the global data converter market will witness exponential growth over the years as it plays a key role in the proper functioning of such devices. Furthermore, data converters are extensively used for the efficient functioning of technologies like LED backlighting, network interfaces, and wireless video connections.
The growing need for low power consumption data converters is one of the key trends that is expected to drive this market’s growth in the coming years. At present, several industries are introducing low power consumption data converters in the market. Portable and non-portable devices use low power consumption devices due to the growing need for energy-efficient data converters. For instance, Texas Instruments introduced the ADC3444 in 2015 which brought down the power consumption from 750mW/channel to 98mW/channel. Furthermore, low-power design is another factor that is gaining popularity in the market as it monitors the temperature of the module. Analog to digital converter (ADC) and digital to analog converter (DAC) require low-power design in order to function accurately and avoid overheating of the module.
This segment includes components and systems like duplexers, microprocessors, and microcontrollers. These devices are essential to every electronic device that is sold today. Advances in embedded systems, such as higher memory capacities, faster processor speeds, and higher power capacities are required for technological growth across all industries. Organizations need to be attentive to the advances in this field, as this technology shapes the future of hardware devices.