Hardware

4 major trends fostering global smart card market share

Posted on

Evolving digital technology along with increasing access to cashless payments will foster smart card market forecast over the analysis period. The growing need to promote a cashless economy has encouraged the production of credit and debit cards. Smart city initiatives have also helped companies to develop smart solutions that could initiate identification and digital payment through smart cards in various sectors like  transportation, financial, government, telecommunication, retail and healthcare.Smart city initiatives will be vital and effective to stimulate the demand for smart cards. According to United Nations Department of Economics and Social Affairs, about 68% of the population of the entire world is expected to live in cities by the year 2050. These cities will be deployed with Internet of Things devices that will collect data in order to maintain the resources and asset as well as smart cards that will help transactions get much easier. Bengaluru in India, for instance, has been planning to adopt smart cards that could be used for cashless traveling in all the public transport systems.

The payment card industry has introduced the EVM payment card method which has boosted the adoption of smart cards significantly. Increasing focus on security of organizations and user information has transformed smart card market outlook, with the advent of products capable of short-range wireless connectivity and can also be used as a token for multifactor authentication.

Described below are some factors influencing the demand for smart cards over the coming years:

  • Increasing applications for hybrid cards

Hybrid cards will witness a steady adoption owing to multifunctional features and several smart applications that will conveniently contribute towards smart card market size. With rapid urbanization, certain countries have increasingly provided mass transportation for public travelling for greater efficiency and lower cost.

Hybrid chips are typically used for such mass transits that demand fast transaction time. Surge in security concerns in association with transactions and personal information will foster the demand for hybrid cards owing to the high level of security possible.

A hybrid card is also useful in accommodating the technology and infrastructure of a legacy system with the addition of e-card technologies in a single card. The product’s easy to use properties along with the high security provision will influence the product demand.

  • Surge in use of microprocessors

Rising use of microprocessors in the banking and mobile phone sectors will contribute to the product growth. Microprocessors have their own operating system that is capable of processing data as a reaction at a given situation. The smart card is practical and a powerful tool due to its capability to record and modify information in its own physically protected and non-volatile memory.

Get a Sample Copy of this Report:https://www.gminsights.com/request-sample/detail/4312

Emerging markets like E-passports, assess control, PKI and other applications wherein the cryptographic abilities addresses the issues of security particularly demand microprocessor cards, expanding smart card industry scope.

  • Growing telecommunication sector

Smart cards are secure elements and are widely used in the telecommunications industry around the world. These cards are used in two major applications like the prepaid telephone cards where the valued memory cards are stored as well as the Subscriber Identity Module (SIM), which are microprocessor based smart cards in mobile phones.

Moreover, smart cards are being used with NFC-enabled mobile phones that have incorporated secure elements and are being used for several applications that include ticketing, mobile marketing and other mobile contactless payments. This has tremendously bolstered global smart card market share from sim and telecom segment applications.

The smart card industry has UICCs and SIMs as the highest volume products for revenue and units. More than 100 countries use smart cards after having substituted coins in payphones in order to improve convenience for customers and telecommunication operators.

  • Rise in daily consumer purchases

Increasing consumer needs and purchases will stimulate the applications of smart card in the retail & gas sector in the forthcoming years. The card can be used as electronic wallets while the chip has funds in order to pay for purchases like cafeteria food, taxi rides, groceries and laundry services. Bank connections are not required due to the cryptographic protocols that the money exchange between machine and smart cards have.

In an effort to save time and provide easy access of customer service to consumer, the government has been making efforts to use technology. India’s sole supplier of piped natural gas and CNG, Indraprastha Gas Ltd., recently launched prepaid smart cards in order to provide the customer with digital options for payment.

Key market players in the smart card industry like Oberthur, Inteligensa Group, CPI Card Group, American Banknote Corporation, IDEMIA, Perfect Plastic Printing Corporation, Watchdata, HENGBAO and Goldpac Group have introduced advanced smart solutions. Further collaborations and strategic acquisitions will influence the business outlook considerably. Global smart card market size is anticipated to surpass USD 65 billion by 2025.

Author Name : Riya Yadav

3 key trends fostering air traffic management market share over 2019-2025

Posted on

Improving global economy and rising passenger traffic will foster air traffic management market size over the analysis timeframe. Increase in the number of passengers has been boosting the air traffic in Asia Pacific which has resulted in new airport developments to cater to the passengers across countries like China and India .For example, India had made an investment for two airports in Ahmedabad and Rajkot in 2019. China has reportedly invested in six new airports which have been predicted to be completed by 2020.

Key players that operate within the market’s competitive outlook include Thales Group, Raytheon, Northrop Grumman Corporation, Harris Corporation and Saab AB that bolster their capabilities in research and development to create innovative solutions by incorporating advanced technologies.

For instance, Park Air Systems which is a subsidiary to Northrop Grumman in the U.K., reportedly deployed Sapphire ATM Communication System to four of the remote stations in Poland. The four new systems have been delivered to the Polish Air Navigation Service Agency and will be serving the Warsaw Fredric Chopin Airport.

Described below are the few trends that will fuel air traffic management industry share over the coming years:

  • Establishing key regulatory bodies

Major regulatory bodies like the U.S. Federal Aviation Administration (FAA) have been administrating the operations of air traffic management all across the region. These authorities have primarily been aiming to provide the customers with enhanced air traffic management facilities on account of the increasing passenger demand.

The airports are focused on providing services pertaining to advanced air traffic control and upgrading the preexisting systems, bolstering air traffic management market forecast.

Booming freight transportation, corporate travel and tourism owing to expanding globalization has increased the frequency of flights and has created a substantial requirement for efficient air traffic management systems.

Pertaining to these drivers, EU had introduced single European sky in the year 2014. The goal of SES is the defragmentation of the European airspace and improve air traffic management standards, thus spurring industry growth.

  • Increased focus on safety of passengers

Air traffic control systems offer vital services in airports that involve instructions provided for aircraft on the ground including during clearing aircraft takeoffs and landing. Chief functions of the systems include the prevention of aircraft collision with equipment and other aircraft while maneuvering, both in the air and ground.

Air traffic management industry size from air traffic control segment is anticipated to record gains of over 3% up to 2025.

The segment will be considerably driven by rising applications of 4D trajectory prediction systems, artificial intelligence and increasing adoption of other new technologies that help with the constant upgrade of air traffic control systems.

  • Rising air traffic and cargo movements in Asia Pacific

In terms of geographical expansion, Asia Pacific is projected to hold significant share of the global air traffic management market size due to the growing number of investments for new airports in several countries such as India, China, Indonesia, and Vietnam.

Get a Sample Copy of this Report:https://www.gminsights.com/request-sample/detail/3297

Emerging economies across the region have resulted in booming cargo movement and passenger traffic across the region. Leading aircraft manufacturers have substantial backlog of new airplane orders, indicating a vast future potential.

The authorities handling airports have been consistently investing in the development of infrastructure of the existing airports in order to support the rise in rising cargo and passenger movements. This will provide lucrative opportunities air traffic management industry outlook, with considerably increased need for handling large aircrafts.

Author Name : Riya Yadav

Europe human centric lighting market to register commendable growth between 2019-2025

Posted on

Profound application in the commercial and healthcare sectors will drive human centric lighting market size. Human centric lightings (HCL) are designed to offer illumination solutions that physiologically and psychologically benefit human-beings. They are intended to promote improved concentration, efficiency and enhanced safety at offices and other work environments. HCL also supports healing processes and prevention of chronic diseases among people with irregular work routines.

Germany human centric lighting market, by application, 2018 & 2025 (USD Million)
Germany human centric lighting market, by application, 2018 & 2025 (USD Million)

Increasing advancements in lighting technologies along with rapid adoption of Internet of Things (IoT) will support human centric lighting market growth globally. Using IoT, lighting systems can effectively be controlled and customized in real-time. IoT sensors can detect changes in environmental parameters, further directing and improving HCL capabilities.

With emergence of smart LED bulbs that offer a wide spectrum of colors and intensities along with advanced controller hardware, human centric lighting market will witness new growth opportunities over the coming years.

Human centric lighting market is anticipated to garner significant proceeds in the commercial sector. Renovation of enterprise infrastructure and installation of smart building and lighting products to develop comfortable workspaces will foster business growth. HCL solutions allow improved productivity and boost concentration in commercial work areas. In fact, research results suggest that the systems can increase work performance, reduce fatigue and significantly increase concentration and work satisfaction.

According to Lighting Society Europe, human centric lighting can significantly enhance employee performance to the point of improving productivity by 4.5%, reducing errors by 2% and further slashing rate of work absenteeism. HCL can also significantly improve visibility, thereby reducing the risk of tripping, falling and potential injuries. With employees spending more time in offices and other workplaces, HCL systems will become an essential lighting solution in the commercial sector, fostering HCL industry size.

Get a Sample Copy of this Report @ https://www.gminsights.com/request-sample/detail/3637

Increasing traction in the healthcare sector will augment human centric lighting market share. In hospitals and old age homes, HCL is well suited to implement lighting cycles comprising sunrise, sunset and daylight simulations. The system offers patients with enhanced benefits like higher activity levels during day, better sleep during night, reduced recovery time and lowered intake of anti-depressants.

In fact artificial lighting can compensate for biologically active effects of insufficient daylight exposure, thereby stabilizing the sleep-wake rhythm. It can also lead to more restorative sleep, thus ultimately improving the mental and physical wellbeing of hospitalized patients.

In old-age homes, HCL systems can offer high color temperatures, higher illuminance, and dynamically adjusted light distribution levels, further improving the quality of life of the elderly people. Additionally, in the healthcare sector, the systems can significantly reduce surplus cost of electricity bills.

For instance, according to a A.T. Kearney study, the annual efficiency gains achieved from human centric lighting in a hospital with 1,000 beds and 1,500 employees amounted to over €300,000. Instances such as these implicate growth opportunities in the healthcare sector, furthering human centric lighting industry outlook.

Europe human centric lighting market is expected to witness increased traction in commercial, residential and healthcare sectors. Infrastructure refurbishment in Europe currently focus on developing well-illuminated building environments.

The region naturally observes less exposure to sunlight which eventually creates an impact on human health, thereby creating the need for human centric lighting market solutions. With presence of leading market players along with rising investments, Europe human centric lighting market will witness rapid technological growth in the upcoming years.

Global human centric lighting market is being propelled on account of increasing application in healthcare and commercial sector. The industry is witnessing rising investments in R&D from leading players, government organizations, and lighting associations. Increasing consumer awareness and focus on the implementing energy-efficient work environments are anticipated to expand human centric lighting industry size in the future.

Author NameMateen Dalal

Cellular vehicle-to-everything (C-V2X) market to witness double-digit CAGR over 2019-2025

Posted on

Growing number of technological developments in the field of communication has fueled cellular vehicle-to-everything (C-V2X) market expansion worldwide, with considerable investments in advanced hardware and software components. A surge in disposable incomes and easy availability of automobile finance have driven the sales of mid to high-end luxury vehicles and allowed manufacturers to build in innovative features like telematics, cellular vehicle tracking, automatic parking and driver assistance systems. Consistent growth in transportation and logistics services have warranted the demand for latest fleet management systems, advancing the scope of global C-V2X industry.

Europe Cellular Vehicle-to-Everything (C-V2X) Market Share, By Region, 2018

Europe Cellular Vehicle-to-Everything (C-V2X) Market Share, By Region, 2018

Enabling reliable and efficient connections between vehicles could implement co-operative driving to avoid traffic bottlenecks, accidents and allow smooth control of convoys. Vehicle to vehicle technology has reached a stage where a single platform can link multiple resources and help provide data for vehicle diagnostics and usage-based insurance, while powering advanced infotainment systems. Cellular vehicle tracking has become a norm amongst many large fleets, whether it is passenger transport or commercial goods movement.

Globally, 4G or LTE infrastructure has expanded tremendously and using the existing cellular infrastructure will lower the amount of new roadside components to be added. Deploying the established LTE networks will allow for cost-effective, dependable and easy communication at high speeds will significantly boost global C-V2X market share. It will also enhance line-of-sight of systems, facilitating communication over longer distances and improving the performance of GPS. With 5G networks on the way, upgrading existing LTE components would further propel adoption of vehicle to vehicle (V2V) or vehicle to network (V2N) communications.

Advanced driver assistance systems are being considered as an inevitable inclusion in future vehicles, with number of road accidents on the rise despite improvements in infrastructure and road safety awareness programs. C-V2X industry is poised to witness substantial revenues from collision avoidance application, to develop better V2V and vehicle to person (V2P) solutions. Reportedly, every year car accidents amount to nearly US$242 billion in economic costs across the U.S. Reducing the number of vehicle crashes is a priority among automakers and effective V2V solutions could help mitigate collision risks for drivers.

One of the world’s leading auto manufacturers, Ford had indicated the lucrative future prospects existing for C-V2X industry last year when it began testing V2V communication system in the U.K. The aim of the experiments were to observe co-ordination between movement of cars for passing through intersections without having to stop, eliminating the need for traffic lights.  Although the vehicle had a human driver, the company is eyeing deployment of the system in self-driving cars as well.

Get a Sample Copy of this Report:https://www.gminsights.com/request-sample/detail/3383

The advent of hybrid and electric vehicles has produced immense growth opportunities for C-V2X industry, since these vehicles are dependent on the latest hardware components and communication technologies. Incorporating the most advanced chips and equipment, electric cars could easily communicate with each other for alerting about probable distress situations or roadside hazards. According to the International Energy Agency, a projected 125 million electric cars could be on the roads by 2030, signifying the vast potential of C-V2X market.

An important application area for V2V technologies are autofocus vehicles, which are fundamentally run by highly reliable, fast communication systems that have low latency. Several chip makers and auto manufacturers are attempting to enhance collision avoidance capabilities of driverless cars to ensure a safe product and to meet stringent regulatory requirements.

With the presence of many leading automotive companies and partnerships with global technology firms, Asia-Pacific C-V2X market can be expected to reign in enormous revenues over the coming years. In December 2018, a consortium comprised of automaker Nissan and companies like Qualcomm, Continental and Ericsson completed the first C-V2X testing in Japan using 5.8 GHz frequency for direct communication. Tests were conducted under various conditions and demonstrated the potential of not only V2V, but V2N and V2P communications.

Owing to remarkable achievements in deploying communication network equipment and integrating crucial V2V systems within vehicles, C-V2X market is slated to register a double digit growth from 2019 to 2025. Key players outlining the competitive dynamics of the industry include Autotalks, Bosch, Continental, Nokia, Qualcomm, Intel and Savari.

Author Name : Pankaj Singh

3 vital trends impacting industrial communication market size

Posted on

The global industrial communication market has thrived successfully in the recent decade as growing adoption of these components in Industry 4.0 has effectively helped increased productivity in major industries. Labor reduction, waste reduction, repeatability, enhanced quality control, and integration with existing business systems have given companies an added advantage by lowering long-term costs, which could indirectly increase product output and revenue.

U.S. Industrial Communication Market Revenue, By Component, 2018 & 2025, (USD Million)
U.S. Industrial Communication Market Revenue, By Component, 2018 & 2025, (USD Million)

 

An industrial communication network is the backbone for any automation system architecture as it can offer powerful means of data exchange, controllability and flexibility to connect to various devices. The use of digital communication networks in industries can also lead to improved end-to-end digital signal accuracy and integrity.

Communication networks like LAN (Local Area Network) or WAN (Wide Area Network) can communicate large amounts of data via limited number of channels. Whereas industrial networking enable implementing various communication protocols between field devices, digital controllers and several automation related software tools and external systems. Therefore modern industries have demonstrated increased adoption of industrial communication networks over traditional LAN and WAN. This has led to industrial communication market size depicting a substantial increase lately.

For instance, according to renowned automation conglomerate ABB, and one of the notable players in industrial communication market, the firm’s revenue increased by 5% to $7,395 million in 2018. This has been credited to the strong growth in robotics & motion, robust performance achieved from electrification products and a steady result owing to industrial automation.

Some of the trends that industrial communication market is being defined by are mentioned below:

  • Long-term application of industrial communication in the industrial automation sector

Growing demand for increased data processing speed will foster industrial communication market size in the automation sector. As industrial operations are becoming more complex and variable, the market has registered immense growth over recent years. Indeed, a greater number of network-based programmable controllers and mechanisms are required within modern industries to attain faster decisions and increased productivity and efficiency.

With network-based automation, companies can also attain increased saving in work force, energy, raw material, better control on product quality and enhanced plant availability and operational safety. In fact, the technology can help in raising the levels of process control & continuity with improved efficiency, eventually bringing potential production figures to the nominal plant capacity by cutting downtime, corrective maintenance and the lack of raw material supply to minimum.

With efficient real-time communication system like PROFIBUS-DP or PA, Fieldbus and more, distributed peripherals such as Input/output (I/O) modules, transducers, drives, valves and operational panels can also communicate with automation systems more accurately.

Thus, with the advent of the automated systems that are based on advanced industrial communication and technology, the automation sector will attain enhanced benefits in terms of maintenance, and increase plant productivity, further augmenting industrial communication market size.

Get a Sample Copy of this Report:https://www.gminsights.com/request-sample/detail/3367

  • S. to emerge as a pivotal revenue pocket for industrial communication market in the forthcoming years

Being a major producer of automation equipment, U.S. is anticipated to drive massive growth in industrial communication market. Citing International Trade Association (ITA) reports, the country is the leading producer of hardware components that are used in automated systems as well as a major supplier to manufacturing or production industries across the globe.

In fact, in 2015, U.S. exported nearly $10.5 billion worth of automation equipment to foreign markets, claims ITA. Sources suggest that supportive government policies and the presence of global automation players like General Electric, Honeywell, Rockwell, Emerson Electric and more will pave the way for industrialization in the region. Additionally, the increasing adoption of Industry 4.0 will boost the demand for the industrial communication technologies in the coming years, successfully proliferating U.S. industrial communication industry size.

  • Wireless communication technologies to enhance industrial operations

Advancements in wireless communication along with growing adoption of advanced tech-based devices will drive the industrial communication industry. The key advantage of wireless systems is that they can be installed in remote locations in an efficient and cost-effective manner. As battery-powered transmitters don’t require wired infrastructure or power supply, they can be installed across areas that are far away from power wiring and wired fieldbus.

They can also be installed in sites where setting up power and cabling systems would be dangerous or too expensive. This flexibility allows use of wireless in both Greenfield projects and ongoing Brownfield projects.

Owing to the low-power nature of Wireless HART devices, users can also operate such equipment for several years without replacing the battery. Moreover, engineering, procurement, and construction contractors and plant owners can increasingly shift to wireless communication technology as it is beneficial in terms of reducing physical fixed infrastructure, managing schedule risk and cost escalation, and reducing space requirements and weight.

According to reports, adopting wireless solutions have reduced commissioning time by 50% for some contractors. The technology further helped in streamlining the design and engineering process, maintaining project schedule and improving user’s ability to manage change on their project. The prominence of this technology is rather overt from the estimate that wireless charging market size is slated to cross $14 billion by 2024.

Moreover, with industry-leading process plants installing wireless infrastructure, industrial communication market size from the wireless communication protocol is estimated to grow at a CAGR of over 22% over 2019-2025.

In a nutshell, it would not be incorrect to quote that industrial communication industry is likely to come up as a highly profitable vertical of the overall electronics cosmos. As per estimates, global industrial communication market size is anticipated to exceed USD 160 billion by 2025.

Author Name :Mateen Dalal

Operator training simulator market to gain substantial proceeds from aerospace & defense sector over 2019-2025, surging product demand for tackling life-threatening situations to fuel the industry growth

Posted on

The revenue graph of operator training simulator market is projected to foresee exponential growth owing to the continuous improvement in these products and rising emphasis on recruiting skilled workforce. Skill development helps to enhance productivity, safety, profitability, controllability, and stability of the enterprise operations. The increasing focus to reduce injuries and fatalities to maintain safe operations across various business verticals is expected to aid the market growth.

Brazil operator training simulator market, by application, 2018 & 2025 (USD Million)

Brazil operator training simulator market, by application, 2018 & 2025 (USD Million)

Industry professionals are training their operators to tackle life-threatening situations which has led to increased emphasis on safety of workers, optimization and efficiency of simulators – a factor that is likely to impel the operator training simulator market share in the times to come.

Operator training simulators improve decision making of the operators at critical times while increasing familiarity with the operations. Pilots are required to develop skills like decisiveness, quick thinking, confidence and situational awareness which can be enhanced by simulator trainings. Operator training simulators strengthen confidence to tackle the unfavorable situations. To underscore the significance of simulators, the recent instance of fatal aircraft crash of Ethiopian Airlines can be considered. The crash killed all 157 on board just five months after a similar crash on a Lion Air flight which killed all 189 passengers and crew.

After the accident, the Allied Pilot Association has demanded training on simulators which includes scenarios like those experienced by the pilots of Ethiopian Airlines and Lion Air and additional computer training for 737 MAX to cement the lessons of failure modes in the minds of pilots. Apparently, the deployment of advanced simulators would be crucial in building confidence among pilots, essentially boosting the growth of operator training simulator market.

Get a Sample Copy of this Report:https://www.gminsights.com/request-sample/detail/1285

Apart from aviation industry, the railway sector has also emerged as a major end-user to deploy operator training simulator for realistic and robust training to avoid fatalities. For instance, in the year 2018, Indian railways had announced to invest INR 350 crore in operator training simulators to train 1.5 lakh loco pilots and assistant loco pilots to bridge the gap between theoretical and practical learning. The investment is meant to make drivers learn how to navigate rail tracks, curves, signals, bridges and any other situation as if they are driving a real train.

Over 12,000 diesel and electric locomotives daily run on a 66,000-km network across the country. There are about 86,000 train drivers and the simulator training with real feel experiences will assist these drivers to run locomotives efficiently. Apparently, the Indian government’s program is a testimony to the increasing prominence of governmental support to high-end simulator training across various geographies – a vital factor that will enhance the growth prospects of the operator training simulator industry.

Notably, defense academies have also been proactive in adopting operator training simulators for public safety and enhancing the overall skill-set of cops. As the police department is responsible for the safety of citizens and maintenance of peace across any country, cops face highly stressful situations on a regular basis which requires high level of patience and panic control. In this regard, simulator training has proved to be of immense help and numerous police academies are deploying these simulators on their premises.

For instance, the New Britain Police Academy has recently adopted simulator trainings to train police to manage stressful responses and make decisions under pressure. The Milo Simulator – chosen by the academy – is an advanced simulator in the state which combines driving an emergency vehicle in highly unfavorable situations such as armed encounters. The human reaction under pressure is unpredictable but this training simulator can help police officers to calmly handle stressful situations.

Operator training simulators have found usage in aviation, railways, police trainings and have applications in several other industries, including healthcare, energy, and chemicals. Operator training simulators play a vital role in training operators in manufacturing and industrial plants. The simulators enhance familiarity with the operations by creating a visual and real-time experience to cement the learnings by experiencing high-risk situations.

Retiring experienced workforce and the increasing demand for quality training of young staff will also contribute in proliferating the operator training simulator industry trends. According to a research report by Global Market Insights, Inc., the operator training simulator market is expected to surpass a remuneration portfolio of USD 20 billion by 2025.

Author NameAnchal Solanki

Europe artificial intelligence (AI) in manufacturing market to register a lucrative CAGR of 44% over 2019-2025, cybersecurity to emerge as a prominent application segment

Posted on

Rising pressure on businesses to sustain profitability and improve efficiency has thrusted the artificial intelligence (AI) in manufacturing market into global recognition, with the need for better quality management, material movement, inspection and predictive maintenance. The growing use of IoT and other means of communication has also created a necessity for ensuring cybersecurity, further bringing AI into play. The advent of industry 4.0 has brought with it the integration of all types of technology-related changes into an organization, which has allowed the growth of AI in manufacturing industry to handle and manage these changes efficiently. Continuous advancements in technology have also led to the development of more complex and functional electronic components, requiring accurate programs and production automation to be implemented and monitored.

U.S. Artificial Intelligence in Manufacturing Market Revenue, By Technology, 2018 & 2025
U.S. Artificial Intelligence in Manufacturing Market Revenue, By Technology, 2018 & 2025

Machine learning, for instance, has the potential to assist floor managers in devising most cost-effective and efficient production, maintenance and quality control plans, underlining the importance of the AI in manufacturing market. It is widely known that robots have been deployed in almost every manufacturing industry to replace humans in hazardous and more time consuming operations. Using AI to help control these robots and report their progress would help save companies enormous amounts of time and money, realized by reduction in errors and idle time. The ability of AI-enabled robots to be suited for 24-hr production schedule will help improve the competitiveness of businesses and meet rising customer demand for key automobile, appliance and aircraft components.

As evident, the AI in manufacturing industry can prove crucial in refining production and associated operations across numerous business verticals. Regions comprising of mostly developed economies, such as North America and Europe, represent key proponents of AI, with vast investment pools into R&D as well as high labor costs which calls for a more automated production system. Europe in particular has some of the most automated industries in the world. According to the International Federation of Robotics (IFR), Germany is ranked third in the world in terms of automation, with 309 robot units deployed for every 10,000 employees. Sweden and Demark boast of a high degree of automation as well, with 223 and 211 units of industrial robots installed in the manufacturing segment per 10,000 workers.

Get a Sample Copy of this Reporthttps://www.gminsights.com/request-sample/detail/3124

In addition to these nations, other EU members have also adopted robots eagerly to take advantage of the long-term financial benefits they deliver, presenting tremendous growth opportunities for the AI in manufacturing market. Europe has witnessed the rise of many producers of hardware components that are compatible with AI technology, besides the augment of software providers and start-ups aiming to offer unique AI experiences. Reports indicate that the region has a constantly growing AI community, where U.K. supposedly has the largest AI ecosystem in the region with Germany, Spain and France close behind. Presence of world leading automakers, electronics product manufacturers, FMCG businesses and consumer goods producers in Europe provides key development and funding opportunities for emerging AI technology firms.

Speaking further, U.K. itself holds more than 120 AI companies while Germany has just over 50, demonstrating their capability to become dominant forces in the Europe AI in manufacturing industry. AI software and platforms are increasingly being designed to counter cyberthreats in this age of IIoT and connectivity, which will be major driving factor for AI in manufacturing market. In 2018, it was reported that nearly 48% of manufacturers in the U.K. had experienced cyber security incidents till date and half of them had even suffered business disruption or financial losses as a result. With most of an organization’s production and individual data stored on their business platforms, AI will certainly be indispensable for cybersecurity applications in the near future.

All in all, owing to the existence of numerous technology firms and surging investments in automation solutions, the AI in manufacturing market in Europe is anticipated to witness a 44% CAGR from 2019 to 2025. Key software and hardware providers based in Europe, such as Graphcore and SAP, as well as formation of technology partnerships with start-ups by American firms like Google, IBM and Microsoft in the region will define the competitive dynamics of the AI in manufacturing industry.

Author NamePankaj Singh