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Touchless Sensing Industry Estimates & Forecast, By Application, segments 2020−2027

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Touchless sensing is defined as an advanced form of human-machine interaction that is dependent on software. Here, the user can control and monitor devices via contactless modes. Market Research Future (MRFR) has published a research report regarding the global touchless sensing market that vaticinates massive extension for this market with 17.3% CAGR (Compound Annual Growth Rate) for this market between 2018 and 2023. In terms of cash, this market is expected to be worth US $ 18 bn.

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The key factors aiding the market growth for touchless sensing are easy incorporation into mobile devices and its high demand across industries including food & agribusiness, healthcare, and Information Technology (IT). Other factors aiding the market include low cost, zero maintenance, reliability, ease of development & integration, enhanced user experience, ease of use, increasing digitalization across industries. Lastly, increasing hygiene concerns, especially in the food industry are contributing substantially to the growth of the touchless sensing market. However, some factors that can cause roadblocks in the market growth are the absence of haptic sensation and high power consumption.

The global touchless sensing market has been segmented on the basis of industry, product, technology, touchless biometric, and lastly, region. The industry-based segmentation segments this market into automotive, banking, financial services and insurance (BFSI), consumer electronics, government, healthcare, and others. Based on the product, the market has been segmented into touchless biometric, touchless sanitary equipment, and others. Touchless sanitary equipment has been sub-segmented into hand dryers, touchless faucets, touchless soap dispensers, touchless towel dispensers, and touchless trashcans.

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On the basis of technology, the market has been segmented into camera-based technology, radio-frequency identification (RFID) technology, sensors, voice assistance, and others. Sensors have been sub-segmented into image sensors, infrared sensors, proximity sensors, and others. The touchless biometric segment has been segmented into a face recognition system, iris recognition, touchless fingerprint recognition, and voice recognition.

The regional segmentation of the global touchless sensing market segments the market into continent-based regional markets known as North America, Europe Asia Pacific and the rest of the world (RoW). According to the report, Europe is expected to hold the largest share during the forecast period due to the favorable initiatives were taken by the governments of various European countries towards hygiene standards. The most important country-specific markets in Europe are France, Germany, Italy, Spain, and the United Kingdom (UK).

North America is the second largest market. The organizations in this region are shifting towards new and upgraded technologies with the increasing adoption of digital business strategies. The presence of a major solution provider of touchless sensing (key market players) in North America is also boosting the market growth in this region. The significant country-specific markets in this region are the United States of America (USA), Canada, and Mexico.

The Asia Pacific is expected to emerge as the fastest growing market during the forecast period because the growth potential of developing countries can provide a favorable environment for product manufacturers. The major country-specific markets in this region are China, India, and Japan, followed by the rest of the Asia Pacific region.

The RoW segment covers the Middle East & Africa (MEA) and Latin America. In Latin America, Argentina and Brazil have strong economies, and they might emerge as big markets in the future. The MEA region shows limited market slow and steady growth. The reasons for the slow market growth in this region are lack of awareness, lack of education, lack of technological development, political instability.

Key Players

The key players in the global touchless sensing market include CogniVue Corporation (Canada), Crossmatch (USA), Elliptic Labs Inc. (Norway), Eyesight Technologies Ltd. (Israel), Microchip Technology Inc. (USA), Microsoft Corporation (USA), Intel (USA), InvenSense (USA), NXP Semiconductors (Netherlands), and Qualcomm Inc. (USA). 

Latest Industry News

  • Twenty Billion Neurons GmbH, a leading provider of real-time, artificial intelligence (AI) solutions and interactive computer vision, has announced a $10 mn Series A funding round, led by M12, Microsoft's venture fund, with participation from Coparion, Creative Edge, and MFV Partners. 26 SEP 2018
  • Microsoft has won a patent for a future surface tablet called Surface Go that could support touchless input & recognize hand gestures. 11 JUL 2018.

 

TABLE OF CONTENTS

 

1 Executive Summary

 

2 Scope Of The Report

 

2.1 Market Definition

 

2.2 Scope Of The Study

 

2.2.1 Research Objectives

 

2.2.2 Assumptions & Limitations

 

2.3 Markets Structure

 

3 Market Research Methodology

 

3.1 Research Process

 

3.2 Secondary Research

 

3.3 Primary Research

 

3.4 Forecast Model

 

4 Market Landscape

 

4.1 Porter’s Five Forces Analysis

 

4.1.1 Threat Of New Entrants

 

4.1.2 Bargaining Power Of Buyers

 

4.1.3 Threat Of Substitutes

 

4.1.4 Segment Rivalry

 

4.1.5 Bargaining Power Of Suppliers

 

4.2 Value Chain/Supply Chain Of Touchless Sensing Market

 

5 Industry Overview Of Touchless Sensing Market

 

5.1 Introduction

 

5.2 Growth Drivers

 

5.3 Impact Analysis

 

5.4 Market Challenges

About Market Research Future:

Market Research Future (MRFR) is a reliable firm that undertakes an extensive analysis of markets in various domains. Our teams of research analysts gather relevant data through painstaking primary and secondary research that aims to give clients a complete outlook on markets of their interest. The data is compared against third-party agencies and reputed organizations for estimating valuations and revenue projections.

MRFR’s goal in providing a comprehensive coverage of the market replete with latest trends, niches, developments, and insights can be lucrative for business needs. We aim to push our clients to the forefront by guiding them with astute information for making informed decisions. Our market intelligence can track down key issues in industries and be modified as per the fluctuations in economic scenarios. The reports are customized and offered as per a specific region or country and adhere to latest policies.

 

 

posted Oct 13 by Minakshi Jagtap

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Optical sensors are devices used in measuring light intensity and converting it into electrical signals. It can detect the rise and fall of light levels below a certain level. Their resistance to electromagnetic interference and inability to control electric currents makes them ideal in microwave and explosive applications. The optical sensing market report by Market Research Future (MRFR) provides insights on companies, latest trends on sensors, and applications for the period of 2018 to 2023 (forecast period). The COVID-19 outbreak and its impact on the industry have been taken into account for resizing the growth and revenue projections till 2023.

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Market Scope

The global optical sensing market is expected to witness a CAGR of 21.41% during the forecast period. The market is likely to reach a valuation in excess of USD 4 billion towards 2023. Major applications in transportation, consumer electronics, oil & gas, healthcare, construction, and other sectors can drive the market demand. The properties of sensors for gauging in harsh environments coupled with technological advances can bode well for the market.

The use of optical sensors in the healthcare sector and stringent regulations for deployment of new devices can drive the market. Furthermore, growing awareness of sensing devices and investments in R&D can bolster its demand.

But the challenge of production of cost-effective sensors can impede market growth.

Segmentation

By type, it is segmented into image sensors, fiber optic sensors, ambient light sensors, position sensors, and others. In 2018, the fiber optic sensors segment accounted for 44.05% market share with a valuation pegged at USD 728.69 million. In addition, the segment is expected to grow at a CAGR of 19.17% during the assessment period. Fiber optic sensors are used in different disciplines including displacement sensing, temperature sensing, pressure sensing, vibration sensing, among others.

By method, it is divided into extrinsic and intrinsic. In 2017, the extrinsic segment accounted for 61.61% market share with a valuation of USD 1.01 billion. The segment is projected to grow at 21.91% CAGR over the assessment period. Extrinsic methods for optical sensing include spectroscopy, optical coherence tomography, laser Doppler velocimetry, and pyrometry.

By technology, it is segmented into laser Doppler velocimetry, Fiber Braggs Grating (FBG) based, Fabry-Perot interferometers, spectroscopy, and others.

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Major market applications covered include remote sensing satellite, metrology, temperature sensing, pressure and strain sensing, medical instruments, biometric and ambience sensing, and geographical survey. The metrology segment accounted for 28.07% market share in 2017 and was valued at USD 464.33 million. During the forecast period, the segment is expected to grow at 20.80% CAGR. Optical sensing is extensively relied upon for precision measurement and quality-check in industrial metrology. The compact size and ease of installation and attaining resolutions in micrometers can drive its demand in the sector. Moreover, volumetric measurements and applications for particle and material characterization will bode well for the market in the coming years.

By vertical, it is segmented into construction, aerospace & defense, healthcare, transportation, automotive, consumer electronics, oil & gas, government & utilities, and others. The aerospace & defense segment accounted for 22.73% market share in 2017 with a valuation of USD 376.05 million. It is projected for the segment to expand at a CAGR of 20.81% during the forecast period. Optical sensing technology is gaining tremendous popularity in aerospace & defense for navigation & sensing, free space communication, light detection and ranging (LiDAR), and environmental monitoring.

Regional Analysis

North America led the global optical sensing market and bound to continue its streak till 2023. In 2017, the region accounted for 54.44% market share and is expected to post a CAGR of 20.06% during the forecast period. Presence of leading market players along with the strong demand for optical sensing in countries such as the U.S., Canada, and Mexico is supporting the market growth in the region.  Adoption of optical sensing in industry verticals is expected to remain robust in North America over the next couple of years.

Competitive Landscape

Teledyne Technologies Incorporated, Texas Instrument Incorporated, ams AG, ROHM Company Ltd, ABB Ltd., Hamamatsu Photonics K.K., Analog Devices Inc., STMicroelectronics N.V., Infineon Technologies AG, Oxsensis Ltd, TE Connectivity Ltd., and Sony Corporation are key players of the global optical sensing market.

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About Market Research Future:

Market Research Future (MRFR) has created a niche in the world of market research. It is counted among the top market research companies that offer well-researched and updated market research reports and insights to businesses of all sizes. What sets us apart is our super-responsive team that offers quality work keeping clients abridged of the prospective challenges and opportunities in various markets. Our team is adept in their space as well as patiently listens to every client.

The best part is they know their work inside out and possess the expertise to guide the client in the right direction and achieve results on a tight deadline. We are a one-stop solution for all your data research needs. Our team does not believe in the “one size fits all” approach to creating a report that is detailed and concise. We handle 13 industry verticals including Healthcare, Chemicals and Materials, Information and Communications Technology, Semiconductor and Electronics, Energy and Power, Food, Beverages & Nutrition, Automobile, Consumer and Retail, Aerospace and Defense, Industrial Automation and Equipment, Packaging & Transport, Construction, and Agriculture. With our unique approach for every market report, we aim to reach the zenith in qualitative business intelligence and syndicated market research.

 

Our Forte

 

•          Strong industry focus

•          Robust methodology

•          Tailor-made solutions

•          Disruptive research

•          Cutting-edge detailed reports

•          Competitive pricing

•          Domain expert researchers

•          Timely delivery

•          Ground-breaking approach

•          Advanced and transparent research methodology

•          Cover latest trends and innovations

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The IT and software industry has undergone various advancements paving the way for a number of opportunities. However, with these advancements, there has been increased risk of cyber threats and data loss. Considering the increasing need for data protection, efficient security systems are being deployed across various enterprises and industrial verticals. The major features of security testing are protection and secure access to data. These features are suitable for both web-based and desktop-based applications. The factors contributing to the growth of security testing market are the increasing need for protection of customer data and web and mobile applications, increased adoption of cloud-based security solutions, and rising number of cyber attacks and need for improved security.

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Key players

The key players in the security testing market are identified across all the major regions based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. Some of them are – Cisco Systems, Inc. (US), Hewlett Packard Enterprise (US), IBM Corporation (US), Qualys, Inc. (US), WhiteHat Security (US), Applause App Quality, Inc. (US), Veracode (US), Checkmarx (Israel), UL LLC (Netherlands), and Intertek Group Plc. (UK). These players contribute a major proportion towards market growth.
Apart from the top key players, there are other players that contribute nearly 30-35 % in the security testing market. These include Valency Networks Pvt Ltd (India), Capgemini SE (France), Wipro Limited (India), Cognizant Technology Solutions Corp (US), Infosys Limited (India), Tata Consultancy Services Limited (India), Hexaware Technologies Limited (India), Zensar Technologies Limited (India), CloudBees (US), Symetrics (Netherlands), Rohde & Schwarz UK Ltd (Germany), Beyond Security (US), TraceSecurity (US) and others.
 

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Regional Analysis

The global market for security testing is driven by increasing adoption rate of the Internet of Things, cloud solutions across different industries, and growing demand for software-based networking. The market is estimated to grow at a significant rate during the forecast period from 2017 to 2023. The geographical analysis of security testing market is covered for major regions such as North America, Europe, Asia-Pacific, and the rest of the world. North America is expected to lead the security testing market during the forecast period. North America is an established region in terms of IT infrastructure and is widely known as an early adopter of new technologies. The US is one of the major contributors in North America with leading market share. US has a higher concentration of major players and holds nearly 68% of the key IT vendors.

On the other hand, Europe closely follows North America in information & technology sector. Countries such as Germany, the Netherlands, and the UK are among the highest contributing nations in terms of IT advancement and technological developments. One of the major factors responsible for the growth of security testing market is the deployment of data centers across industries due to which enterprises are realizing the need to implement security testing solutions.

Asia-Pacific is expected to register the highest growth during the forecast period. Adoption of wireless technology for industrial operations, cloud services, and increased government initiative towards digitization are the major factors contributing to the growth of Asia-Pacific market. Countries like China, India, South Korea, and Taiwan are enhancing their existing communications system technology.

About Market Research Future:

Market Research Future (MRFR) is an esteemed company with a reputation of serving clients across domains of information technology (IT), healthcare, and chemicals. Our analysts undertake painstaking primary and secondary research to provide a seamless report with a 360 degree perspective. Data is compared against reputed organizations, trustworthy databases, and international surveys for producing impeccable reports backed with graphical and statistical information.

We at MRFR provide syndicated and customized reports to clients as per their liking. Our consulting services are aimed at eliminating business risks and driving the bottomline margins of our clients. The hands-on experience of analysts and capability of performing astute research through interviews, surveys, and polls are a statement of our prowess. We constantly monitor the market for any fluctuations and update our reports on a regular basis.

 

 

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Regional Analysis

The geographical split of the global mask alignment market is done into regions like North America, Europe, Asia Pacific, and rest of the world. Among these regions, Asia Pacific is the leading region in this market with the highest growth rate. Asia Pacific turns to be a leader in the semiconductor and electronic component manufacturing. Countries like China, Taiwan, and Japan are most of the prominent players in the semiconductor market space. Companies like Foxconn, global leader in contract electronic component manufacturer serves a huge number of global players in smartphone and electronic device manufacturing. Asia Pacific holds various prominent semiconductor foundries and factories such as Taiwan Semiconductor Manufacturing Company (TSMC), Samsung Electronics, and SMIC. These companies have created a huge demand for mask alignment system.

North America is the second largest region with the highest market share after Asia Pacific. The major advantage of North America is due to countries like the U.S. and Canada, which are early adopters of emerging technologies where the application of mask alignment is highly used. A latest trend of replacing major lighting systems in homes and commercial spaces with LED devices, turning to be one of the major applications of mask alignment market. Additionally, many of the semiconductor companies like Texas Instruments are expanding their product line and investing in recent technological developments

 

About Market Research Future:

Market Research Future (MRFR) is an esteemed company with a reputation of serving clients across domains of information technology (IT), healthcare, and chemicals. Our analysts undertake painstaking primary and secondary research to provide a seamless report with a 360 degree perspective. Data is compared against reputed organizations, trustworthy databases, and international surveys for producing impeccable reports backed with graphical and statistical information.

We at MRFR provide syndicated and customized reports to clients as per their liking. Our consulting services are aimed at eliminating business risks and driving the bottomline margins of our clients. The hands-on experience of analysts and capability of performing astute research through interviews, surveys, and polls are a statement of our prowess. We constantly monitor the market for any fluctuations and update our reports on a regular basis.

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Market Highlights

Industrial Valve Market is expected to grow from USD 70.53 billion in 2017 to USD 90.77 billion by 2023, at a CAGR of 4.53% during the forecast period. The ongoing industrialization in developing countries such as India and continued growing adoption of latest technology valves in process manufacturing units in developed countries are the key drivers for the industrial valve market.

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Key players

The key players profiled in the industrial valve market research report are Emerson (US), Schlumberger Limited (US), IMI PLC (US), Flowserve Corporation (US), Weir Group (UK), Crane Co. (US), AVK Holding A/S (Denmark), Kitz Corporation (Japan), Neway Valve (Suzhou) Co., Ltd (China), and Conbraco Industries Inc. (US). The major players constantly focus on growth strategies such as  partnerships, mergers, acquisitions, and product launches to enhance their product offerings and expand their market reach. The other prominent players in the in the industrial valve market are Samson AG (Germany), Velan Inc. (Canada), Forbes Marshall (India), Dwyer Instruments, Inc. (US), Avcon Controls (India), Dwyer Instruments (US), PR Valves LLC (US), and Danfoss A/S (Nordborg).

 

Regional Analysis

The global market for industrial valve market is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of the industrial valve market is done for North America, Europe, Asia-Pacific, and the rest of the world. 

Asia-Pacific accounted for the highest market share in the industrial valve market in 2017, and it is expected to register the highest CAGR during the forecast period. The growth in the market in this region is attributable to factors including ongoing infrastructure development, the rapid pace of industrialization, and growing investments in end-use industries such as energy & power, oil & gas, water & wastewater treatment, chemicals, and construction. Furthermore, the demand from oil-producing region—Middle-East and Africa (MEA)—is expected to remain high owing to the rise in production.

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About Market Research Future:

 

Market Research Future (MRFR) has created a niche in the world of market research. It is counted among the top market research companies that offer well-researched and updated market research reports and insights to businesses of all sizes. What sets us apart is our super-responsive team that offers quality work keeping clients abridged of the prospective challenges and opportunities in various markets. Our team is adept in their space as well as patiently listens to every client.

 

The best part is they know their work inside out and possess the expertise to guide the client in the right direction and achieve results on a tight deadline. We are a one-stop solution for all your data research needs. Our team does not believe in the “one size fits all” approach to creating a report that is detailed and concise. We handle 13 industry verticals including Healthcare, Chemicals and Materials, Information and Communications Technology, Semiconductor and Electronics, Energy and Power, Food, Beverages & Nutrition, Automobile, Consumer and Retail, Aerospace and Defense, Industrial Automation and Equipment, Packaging & Transport, Construction, and Agriculture. With our unique approach for every market report, we aim to reach the zenith in qualitative business intelligence and syndicated market research. 

 

Our Forte 

 

  • Strong industry focus
  • Robust methodology
  • Tailor-made solutions
  • Disruptive research
  • Cutting-edge detailed reports
  • Competitive pricing
  • Domain expert researchers
  • Timely delivery
  • Ground-breaking approach
  • Advanced and transparent research methodology
  • Cover latest trends and innovations 

 

 

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Market Highlights

Hybrid Fibre coaxial is one of the leading Fibre optic technologies in broadband communication that uses a combination of optical Fibre and coaxial cable. The major advantage of using Hybrid Fibre Coaxial Industry is for enterprise video conferencing, telepjhony, voice transfer, and data services. The factors that drive the hybrid Fibre coaxial market is the highly cost efficient HFC cables that are used in industries as well as residential complexes. Moreover, with the increasing trend of internet of things (IoT), the need for high bandwidth for internet is increasing which is helping the HFC market to grow.

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Key Players

The key players in the hybrid Fibre coaxial market are identified across all the major regions based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. Some of them are— Huawei Technologies Co Ltd (China), Nokia Networks (Finland), Cisco Systems Inc (US), Technicolor SA (France), Corning Incorporated (US), Ciena Corporation (US), ZTE Corporation (China), Infinera Corp (US), Finisar Corporation (US), and Skyworks Solutions Inc (US).

Apart from the top key players, the other players contribute nearly 30–35 % in the hybrid Fibre coaxial market. These include ARRIS International plc (US), Commscope Holding Company Inc (US), PCT International Inc (US), Comba Telecom Systems Holdings Ltd (Hong Kong), Vecima Networks Inc (Canada), Bentley Systems Incorporated (US), Technetix (UK), BKtel communications GmbH (Germany), C-COR Broadband (Australia), Comcast Corporation (US), Teleste Oyj (Finland), Vodafone Group plc (UK), Verizon Wireless (US) and others.

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Regional Analysis

The market for hybrid Fibre coaxial is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of unified communication and collaboration market is studied for North America, Europe, Asia-Pacific, and the rest of the world (including the Middle East, Africa, and Latin America).

North America dominated the hybrid Fibre coaxial market in 2017 owing to the increased deployment of Fibre optic cables and growing advancement in optical networks. Asia Pacific on the other hand is leading region in terms of original equipment manufacturers and has a major concentration of electronic component manufacturing companies. Moreover, the rapid economic change factors in India and China are likely to boost the market growth. Additionally, government initiatives to enhance optical network, and adoption of data centers is expected to show a highest growth rate during the forecast period.

 

About Market Research Future:

Market Research Future (MRFR) is an esteemed company with a reputation of serving clients across domains of information technology (IT), healthcare, and chemicals. Our analysts undertake painstaking primary and secondary research to provide a seamless report with a 360 degree perspective. Data is compared against reputed organizations, trustworthy databases, and international surveys for producing impeccable reports backed with graphical and statistical information.

We at MRFR provide syndicated and customized reports to clients as per their liking. Our consulting services are aimed at eliminating business risks and driving the bottomline margins of our clients. The hands-on experience of analysts and capability of performing astute research through interviews, surveys, and polls are a statement of our prowess. We constantly monitor the market for any fluctuations and update our reports on a regular basis.

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