Growing demand for effective ways of storage and testing of enterprise big data will help to augment data warehousing market size by 2025. Data warehousing is rapidly substituting conventional database management systems and legacy Business Intelligence (BI) tools. Data warehouses enable storage of disparate data by transmuting and standardizing several data types into one common format. Data warehousing helps to store large data volumes, and which can be retrieved faster in comparison to other operational systems. Huge benefits offered by the technology are offering impetus to the growth of data warehousing industry share.Data warehousing market forecast report predicts that on-premise data warehousing industry trends will be enhanced owing to low network latency and improved security. On-premise data warehouses do not undergo network lags and provide quicker query processing. These systems provide enterprises with improved data security because critical enterprise data is instituted on in-house data centers. Unification of other services is easier with on-premise data warehouse due to the presence of a single server.
Size of statistical analysis segment in data warehousing market is predicted to expand exponentially over 2019-2025. Statistical analysis comprises of compilation and analysis of quantitative data stored in a data warehouse, to discover fundamental statistical relationships. Statistical analysis tools have been observing a surge in demand owing to the adoption of these tools among government and research companies for past data analysis and to regulate helpful data patterns. Statistical analysis provides superior data re-usability (data recycling) for various sets of conditions. These conditions enable enterprises to create forecast models and predictive analysis algorithms by making minimal changes in data set.
Data warehousing industry forecast report has projected that manufacturing data warehousing market share will expand with a CAGR of more than 15% over 2019-2025. The growth is attributable to advent of Industry 4.0 and intensifying trend of cyber-physical systems in manufacturing facilities to generate huge data. Also, the advancements in manufacturing sector and increasing adoption of data warehousing technology will expand data warehousing market share significantly.
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Huge investments are being made by manufacturing enterprises in IIoT and unifying data warehousing solutions with production management systems to plan for precise and data-driven manufacturing. For example, in February 2019, German automaker Daimler AG has reportedly deployed an in-house data warehouse known as eXtollo. This solution enabled Daimler to integrate IoT data with production planning systems. The integration helps to decrease material wastage, reduce production times, and cut down expense on product quality control. Demand for data warehousing is anticipated to escalate owing to efficient inventory planning and rapid production times in the manufacturing sector which will contribute to boost data warehousing industry outlook.
North America data warehousing market trends are projected to develop significantly by 2025 with a share of more than 40%. The growth can be accredited to strong ICT infrastructure, rapid adoption of cloud services, and augmenting prevalence of big data analytics. Companies in the region have been moving from traditional data warehouse tools to cloud-based solutions to raise scalability, cost-effectiveness, and to reduce hardware dependency. Presence of a number of key data warehouse vendors such as Oracle, IBM, Google, and Microsoft is also anticipated to drive North America data warehousing industry trends.
The main focus of the companies operating in data warehousing market have been on providing latest services and products to earn hefty revenue share. With the amplifying demand for data warehousing solutions, competitive landscape has been becoming more intense with major vendors have been focusing more on technology development and aggressive pricing to stay ahead of competition. A few of the key participants include IBM, AWS, Google, Oracle Corporation, Microsoft Corporation, etc. Reports predict that data warehousing industry size is slated to surpass $30 billion by 2025.
Author Name : Paroma Bhattacharya
The rapid transformation in consumer buying habits and surge in disposable income will drive personal care appliances market size in the forecast years. In recent times, rise in online shopping and social media trends have changed the way consumers discover and buy personal care products. Rise in the usage of the Internet and massive growth rate of smartphones have led to an increase in the number of distribution channels for manufacturers, which in turn, is augmenting personal care appliances industry outlook.
India personal care appliances market, by product, 2018 & 2025 (USD Million)
The major beauty brands nowadays are massively investing in high-tech overhauls – right from product development to innovative marketing and merchandising for providing great customer experience. Leading manufacturers are leveraging the expertise of technologies such as augmented reality and the cloud which has led to the evolution of technology-backed cosmetics brands.
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In recent years, personal care and pharmaceutical companies have also majorly focused on bringing forth pivotal tech-based innovations in male personal care products such as electronic trimmers, shavers, and many other electric male grooming products. In essence, manufacturers are targeting the male populace as a pivotal consumer base which has been helping personal care appliances market forge new growth avenues.
Customers are lately shifting their preferences toward personalized beauty products on a more frequent basis which will further stimulate personal care appliances industry size over the ensuing years. Players in personal care appliances market are making concerted efforts towards developing, upgrading, and refining their product portfolio in order to launch innovative styling products that are battery-powered and can be used in the portable or plugged in modes.
Recently in July 2019, Dyson, a British technology company that engages in the development of vacuum cleaners has now moved towards beauty products. The company has launched Dyson Supersonic Hair Dryer and Dyson Airwrap Styler and seeking to develop more innovative brands to capture modern day shoppers.
The global personal care appliances market thus, in the years to come, will be characterized by strategic collaborations, mergers and acquisitions that would improve the profitability of the companies and expand their customer base.
The advent of social media has had a major impact on personal care appliances market trends. Leading personal care appliance manufacturers are increasingly shifting to promoting their products on social media platforms like Facebook and Instagram, given their expansive consumer reach. Quite often, influencers are found collaborating with leading appliance makers in order to expand the product popularity across a wider consumer base.
In terms of geographical landscape, in 2018, Asia Pacific personal care electrical appliances market had registered around USD 7 billion and is registering substantial growth owing to the increasing popularity of efficient grooming and hair care products. Emerging economies like India, China are becoming the major revenue grounds for international cosmetic companies due to implementation of powerful technologies like AI and chatbots that not only transform the process of consumer engagement but also aid in analyzing the consumers’ skin type and their preferences. These innovative developments will considerably contribute to augmenting personal care appliances market trends and are expected to favor regional growth.
The latest trend emerging in the personal care appliances industry is of imminent players keenly engaging in novel developments, customized products, and creating more options in beauty and grooming products. The technical advancements in hair care and hair removal products are providing long-term results to consumers, thereby, augmenting the demand for these appliances.
Some of the key players in personal care appliances industry include Panasonic Corporation, Procter & Gamble Company, Dyson, Koninklijke Philips N.V., Conair Corporation, Havells India Limited, and Spectrum Brands. Reports from Global Market Insights, Inc., state that personal care appliances market size would surpass USD 30 billion by 2025.
Author Name : Deeksha Pant
The global PoE solutions market share is on the rise, a trend that is expected to continue over 2019-2025. PoE solutions industry outlook will be augmented by widespread adoption of VoIP solutions, IP cameras, smart office buildings, access control systems etc. PoE solutions are estimated to make huge strides in various sectors owing to the new wave of technology and digital advancements that are transforming security operations.
APAC Power over Ethernet (PoE) Solutions Market Share, By Region, 2018
The healthcare ecosystem is increasingly coming to include smart technologies that will significantly contribute to Power over Ethernet solutions market growth in the forecast years. For instance, use of IP cameras in the hospitals and healthcare facilities is anticipated to become ubiquitous in the times to come. Hospitals have started deploying IP cameras to monitor when a patient sits up in bed, gets out of bed, or is tossing and turning in a restless effort to get to sleep. These cameras have enhanced patient care to a greater extent. Use of IP cameras has been growing in hospitals to observe high risk patients efficiently. Adoption of IP cameras will in turn augment PoE solutions market outlook in the coming years.
Another utilitarian device which will supplement growth of PoE solutions industry is increasing use of VoIP phones. By deploying VoIP phones, enterprises have been incessantly improving communication and collaborations among employees and remote users to increase business productivity. Leveraging the benefits of converged voice and data services, companies have enhanced their performance and communication. The convergence of unified communication services and enterprise VoIP to enable video-conferencing, live-chat, and other calling capabilities is expected to fuel VoIP market size and invariably expand PoE solutions industry trends.
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Several technology companies have been toiling to develop PoE solutions and devices to support innovation. For instance, IP-COM has reportedly rolled out the G3210P, an 8-Port gigabit PoE switch with 2-Port SFP. The G3210P has been designed independently to satisfy the need of building a high-performance Gigabit Ethernet network. It can source electricity to high-power PDs and also can transmit data and supply electricity at the same time to IP Phone or IP Camera, AP via Cat.5e twisted-pair cables. Companies launching such devices in the market will remarkably contribute to foster PoE industry share by 2025.
Proliferation of Internet of Things (IoT) is among major drivers that will lead to PoE solutions market size expansion in the coming years. Adoption of IoT among enterprises has increased rapidly to support advancements in business infrastructure. Around 85 percent of organizations who acquire deep expertise with IoT have succeeded in propelling revenue share faster than rivals.
Nearly 68% of enterprises are using IoT to track security of physical assets, making this use case the most common across enterprises today. Approximately, 34% of global businesses are using IoT in daily operations, up from 29% in 2018, with 95% of IoT adopters already recording appreciable benefits. Rapid deployment of IoT among organizations is going to considerably increase PoE solutions market share as PoE has the potential to power the network ecosystem of the future that will enable global digital transformation.
Businesses have also increased focus on infrastructure security to protect sensitive data. Office spaces these days are being equipped with various security systems that require considerable investments. For instance, Euromicron AG has reportedly secured the contract for a major building technology project worth €3.6 million. The building will be completely equipped with access control. Transponder readers will be installed at all entrances and doors on floors, at the entrances to stairways, in the underground car park and basement, and at the doors to the IT technical rooms. PoE solutions industry outlook will be positively influenced by the rising deployment of security and access control systems throughout technologically advanced office spaces.
Smart lighting is yet another feature that is being widely integrated into the smart buildings of tomorrow. Typically, lighting is responsible for 40 percent of a building’s electricity use. To develop smart office spaces with minimal electricity use, smart lighting industry players have been striving to adopt various strategies.
For instance, in the year 2015, Philips and Cisco had announced a global strategic alliance to create new value in energy savings, building efficiency and employee productivity by promoting connected lighting system. Both the companies had intended to deliver a consistent PoE-powered LED lighting solution utilizing a highly secure IT network. Close to 80% in energy savings and decreased building maintenance expenses can be achieved by operating, integrating and regulating a Philips LED connected lighting system via a network with Cisco. Instances of such efforts are in plenty and are anticipated to propel Power over Ethernet solutions market share.
Significantly, commercial sector has contributed to a market share of nearly 30% to PoE solutions industry in 2018 and the trend of integrating smart solution will help to maintain similar growth patterns over 2019-2025.
With growing adoption of smart solutions in office and commercial space, PoE solutions will be much in demand for enabling these smart solutions. Global Market Insights, Inc., has estimated that global PoE solutions market share is anticipated to exceed $2 billion by 2025.
Author Name : Anchal Solanki
Network as a Service market (NaaS) outlook is slated to demonstrate considerable transformation over the forecast years due to the rising demand for latest cloud-based services and integration of new technologies into business networks. Reportedly, enterprises had estimated in 2018 that they would invest on an average $3.5 million on clouds apps, platforms, and services in the year, suggesting the massive need for network products. NaaS has evolved to a new level with the proliferation of communication technologies and innovative cloud applications, driving the expansion of network as a service industry trends.
Europe Network as a Service (NaaS) Market Share, By Region, 2018
In order to keep pace with the competitive pressure of a rapidly changing network environment, service providers need to innovate promptly. Network services are not only providing business opportunity to IT & telecom segment but also encouraging customers to make the best possible use of the provider’s primary services. With rapid advancements in NaaS network services, businesses can easily eliminate all the hassle of maintaining and managing the network themselves.
To keep growing their market share, tech and telecom giants are extensively adopting network services to simplify their architecture through virtualization and incorporating disparate software solutions onto common hardware. In this modern era, the telecom sector is accelerating global presence by addressing customer needs to better serve an ever increasing population base. Consistent growth and enhancement of telecommunication services over the coming years will propel network as a service market size.
Telus, a Canadian telecommunications company, had unveiled its partnership with Nuage Networks in 2017 to initiate Telus NaaS, a software defined wide area network platform. Apparently, several other telcos like Telia, Telefonica, China Telecom and BT had teamed with Nuage for advancing and automating their WAN connections. The prevalence of such collaborations will impact the future of NaaS globally and will propel NaaS industry size in the years to come.
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In terms of the regional landscape, Asia Pacific NaaS market is expected to register a CAGR of over 40% from 2019 to 2025. Growing preference for cloud services and the need to lower operational costs can be accredited to the massive shift in business priorities. Subsequently, IT & telecom companies are opting for high-quality managed and security services to raise their business proficiency. NaaS industry in the region could reach a commendable presence across the tremendously large small and medium sized business environment in APAC.
Telecom sector throughout APAC has been leveraging new NaaS models and enjoying greater flexibility and agility in a quickly changing environment. In addition, several telecom companies have been encouraged to come up with innovative offerings that could potentially change network as a service market dynamics. In terms of the regional dominance, countries including China, Japan, and South Korea could lead other nations owing to the extensive deployment of NaaS platforms, driven by technologies like NFV and SDN.
Japan is ranked among the top Asian countries in terms of cloud readiness, network services and broadband quality. In 2016, NEC Corporation, a Japanese multinational provider of information technology services and products, had collaborated with Netrounds and other partners to accelerate agile deployments of assured network services to increase efficiency and reduce operational expenditures. Similar moves by telecom firms, domestically and internationally, would create tremendous demand for NaaS market players around the globe.
Adopting open and standard technologies like network service enables telecom companies to virtualize their networking solutions by recognizing more advanced ways to operate and manage their networks, with minimal or no dependency on underlying hardware. The variable network connectivity and cloud access through NaaS becomes equally vital for power redundancy and to provide security benefits as per Tier 3 data center specifications.
IT & telecom sector is seemingly a prime target for advanced and innovative strategies for improving network services, that would provide them with agility, flexibility, and facilitate efficient expansion with new application workloads. Upsurge in cloud-based services coupled with the augmented growth in data traffic is certain to fuel NaaS industry share. Global Market Insights, Inc. has projected that global network as a service market will surpass a valuation of USD 50 billion by 2025.
Author Name : Deeksha Pant
Rising demand for affordable and reliable communication services worldwide will be one of the key trends driving voice over internet protocol (VoIP) market growth over the forecast period. VoIP is a rapidly advancing technology that uses internet to make phone calls rather than conventional telephone systems. The cost of using a VoIP service is relatively low, especially for long-distance communication. Companies are increasingly leveraging VoIP solutions to improve their productivity and enhance mobility.
APAC VoIP Market Size, By Country, 2018 & 2025 (USD Billion)
The voice over internet protocol (VoIP) market has garnered major share in developed nations owing to presence of high-speed broadband infrastructures which eliminate the need for maintaining a separate telecommunications network. In addition to making voice calls, VoIP can also conduct video conferencing calls, eventually allowing businesses to visually communicate with co-workers and clients to discuss deals, files, documents and agendas more effectively.
VoIP makes recording calls more efficient and easier, further enabling companies to integrate different communication services into a single device or software. With rapid technological advancements and recent innovations, VoIP market outlook has witnessed an immense transformation lately. For instance, in 2019, caller ID app Truecaller announced the beta-testing of its new app feature that allows users to make voice calls over IP. With such advancements, VoIP market trends are likely to expand and the industry players may garner a huge customer base, thereby augmenting business growth over the forecast period.
Voice over Internet Protocol (VoIP) market share is slated to record significant gains from the international VoIP call segment. Demand for international VoIP calling services is estimated to increase exponentially over coming years, on account of its low-cost service offering. Several affordable international calling plans are being offered by VoIP service providers that allow organizations to conduct business across borders at low calling rates. Credible reports also estimate international VoIP calls market to hold major share of over 50% by 2025.
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VoIP providers also allow users to make calls to landline and mobile phone numbers without any restrictions. Being internet-based, the technology can effectively handle media types such as images, videos and texts along with voice. Rising technological advancements will propel VoIP industry growth. For example, VoIP service plans come with advanced features like caller ID with name, call waiting, conference calls and call forwarding among other.
An instance of initiatives that will effectively generate new growth opportunities in VoIP market include the one made by North Dakota Department of Human Services which recently awarded a $3.3 million worth call center contract to Noridian Healthcare Solutions. The grant will support North Dakota’s Medicaid providers and customers by answering queries associated with Medicaid claims payment, submission of claims, and prior authorization.
Europe voice over internet protocol (VoIP) market will witness commendable growth over the coming years. Especially across Germany, the VoIP industry is recording lucrative growth on account of the region’s strong telecommunication infrastructure. Consumer demand and adoption of broadband high-speed Internet services is also considerable within the nation. With rising demand for cheaper communications service and increasing use of VoIP solution, the region is forecast to be a major ground for VoIP market growth over the coming years.
Supportive government initiatives are also likely to expand Europe VoIP market size over coming years. For instance, as per Europe 2020 strategy, all Europeans are expected to own fast broadband services (over 30 Mbps) by 2020, a mission for which EU has implemented a series of regulatory measures and policies and has made around €15 billion available to Member States in the period 2014-2020.
Voice over Internet Protocol (VoIP) is an advanced communication technology that enables organizations to cost-effectively streamline different communication platforms to improve business productivity. International call centers are increasingly using VoIP to reduce cost expenditure and facilitate voice calls at affordable prices.
With growing traction in European countries and extensive use of internet-based voice communication apps worldwide, demand for VoIP solutions will increase significantly over coming years. Report from Global Market Insights, Inc., estimates voice over internet protocol (VoIP) market size to exceed USD 55 billion by 2025.
Author Name : Mateen Dalal
Wireless LAN controller market is estimated to exceed USD 3 billion by 2025, owing to the increasing business need to manage widespread and intricate LAN infrastructure along with the surging acceptance of cloud-based WLAN controllers for managing network devices. Increasing Bring Your Own Device trend, which necessitates the presence of robust network security in enterprises, will drive WLAN controller market growth through 2025. The rising need for integrated connectivity and security for mobile clients also impacts WLAN controller market trends.
APAC Wireless LAN Controller Market Size, By Region, 2018 & 2025 (USD Million)
In terms of the application landscape, wireless LAN controller market is bifurcated into government and public sector, IT and telecom, healthcare, BFSI, manufacturing, transportation & logistics, retail, and others. The retail segment is anticipated to exhibit substantial growth between 2019-2025, primarily fueled by surging acceptance of latest technology by the retail sector to offer better customer experience and convenience. The constant increase in the number of retail companies across the globe will further advance WLAN controller market size. For instance, Aldi, supermarket chain with over 10,000 stores in 20 countries, has recently declared plans to open a new store in Chattanooga city, Tennessee, USA this fall.
WLAN controller market size from the BFSI segment is projected to witness modest growth in the foreseeable future, attributed to high adoption of digital platforms, workforce mobility trend, and increasing network complexity. The growing use of network devices and smartphones has burdened network administrators with complex network management tasks, resulting in the adoption of wireless LAN controllers by banking & financial institutions, for optimizing networks and boosting performance.
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The establishment of new financial institutions and technological enhancements in Wi-Fi technology along with the fast-paced expansion of Wi-Fi market will elevate the revenue share of WLAN controller market from BFSI applications. For instance, HSBC, a renowned multinational banking and financial services company, has recently declared plans to open fifty new retail branches in the United States where it previously had no existence. Reportedly, this move is a part of British banking behemoth’s plan to expand services to newer geographies with no prior foothold.
The rapid upsurge in digital data has led to the introduction of AI in BFSI market, which has positively impacted wireless LAN controller market share. Financial enterprises are leveraging artificial intelligence technology to gather, analyze, and report huge chunks of data to retrieve actionable insights regarding customers to serve their requirements better. Expanding artificial intelligence market size, owing to surging adoption across automotive, manufacturing, retail, healthcare, media & advertising, agriculture, and BFSI, would push network management requirements, thereby propelling WLAN controller market size over the future.
Rising urbanization and commercialization, especially across developing nations, will impact the industry growth. According to a report published by Our World in Data website, approximately 4 billion individuals resided in urban areas, whereas 3.4 billion individuals resided in rural regions, in 2016. Over the last 50 years, the share of people living in urban areas more than quadrupled in Nepal and Mali, and more than tripled in Nigeria and Kenya. By 2050, the global population is projected to reach 9.8 billion, and it is anticipated that the number of people living in the urban area (6.7 billion) will be double of that in the rural area (3.1 billion).
Growing urbanization and commercialization directly influence infrastructure development, healthcare, IT and Telecom, retail, manufacturing, transportation, BFSI, and various other sectors. As these sectors are the leading consumers of wireless technology, they are projected to support WLAN controller market share over the future. Expansion of the enterprise wireless local area network market is also bound to fuel WLAN controller market growth.
The increasing number of efforts by major companies present in wireless LAN controller market, to gain a competitive edge, will substantially fuel market share. Many organizations are taking huge steps towards innovation and new product development, to accelerate the shift towards cloud-enabled network services and ensure enhanced management & security of wireless LAN solutions. Global Market Insights, Inc. claims that large enterprises will accrue over 55% of wireless LAN controller market share through 2025.
Author Name : Nikita Chaurasia
North America people counting system market to gain massive proceeds by 2025, robust adoption of technologically advanced products to fuel the regional industry expansion
The global people counting system market is poised to witness remarkable growth in the years to come, owing to the robust adoption of digitized systems for supporting regular operations across a number of application domains. These systems provide installers with numerous operational enhancement benefits like tracking the busiest time slots as well as staff optimization. Further, the rising awareness of business intelligence platforms in a number of industries like hospitality, entertainment, and retail is creating huge demand as well, for enhanced customer tracking solutions.
UK people counting system market, by application, 2019 & 2025 (USD Million)
It is imperative to state that the people counting system market is also witnessing a technological evolution, like the development of behavior analysis technologies, thermal imaging counters, and 3D stereographic components. These advancements have been captivating core industry players to adopt innovative technologies that will help drive the people counting system market growth in the years to come.
A rise in the demand for effective technologies for analyzing, detecting and converting potential customers, and enhancing profitability and business is a crucial factor that will propel the people counting system market. A number of industrial sectors like clubs, pubs, restaurants and hospitals are witnessing high adoption of this technology to track the number of customers that are entering or exiting the facility. Such systems also assist companies in developing effective marketing and sales strategies to attract customers and analyze their buying behavior. Strategies like these would further assist them in competing with prominent companies in terms of sales revenue and the customer base.
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Regionally speaking, North America has been touted to emerge as a viable growth ground for people counting system industry. Powered by the presence of numerous system developers in application industries and the robust adoption of technical advancements across the economies of U.S. and Canada, the North America people counting system market size has been growing at an exceptionally rapid pace. The regional industry is touted to depict commendable gains in the years ahead, as the continent continues to witness the proliferation of technologically advanced transportation facilities incorporating automated management systems and the smart city projects.
Notable companies partaking in people counting system market share have apparently retained focus on technological advancements by developing specialized passenger counting systems with different capabilities which would offer better management capabilities in varied application segments. A gist of the contribution by some of the major companies in the people counting system market is mentioned below:
Axis Communications AB
The surveillance industry is remnant of very specific challenges and core players often seek to achieve benefits from niche applications like surveillance in psychiatric wards, interview rooms, and elevators which are commonly left unaddressed by standard products available in the market. To tackle this problem, the Sweden-based Axis Communications has recently introduced two specialty camera models for corner-mount use, with distinct design features for meeting specific use cases.
One of the camera models has a perfect design to blend into the aesthetic in elevators, while the other is ligature-resistant (anti-ligature), ideal for the healthcare sector, among many others. Such product advancements by notable industry players are anticipated to drive the commercialization landscape of the people counting system market in the years to come.
As a part of its exponential growth tactics, V-Count in the recent years, has executed aggressive expansion plans to establish itself in major regions across the globe. In December 2017, the company had made its debut in Dubai, owing to the city’s dynamic, tech-savvy market and its strategic location, which made it an ideal location for V-Count‘s new offices. This move was a part of continuous effort from the company to expand its presence, and respond to the increasing demand for retail analytics and advanced people counting solutions.
The company further made its entry in the UK and other European markets for supporting both new and existing customers in implementing powerful analytics technologies across their businesses. Regional expansion tactics thus, are bound to help augment the scope of the people counting system industry in the forthcoming years.
Considering the aforementioned efforts undertaken by prominent industry players, it is clear that the people counting system market would depict tremendous growth in the coming years. The competitive spectrum of this industry is quite diverse, and consists of renowned companies such as HELLA Aglaia Mobile Vision, RetailNext Inc., Iris-GmbH Infrared & Intelligent Sensors, InfraRed Integrated Systems Ltd., Infodev Electronic Designers International Inc., FLIR Systems Inc. and Eurotech, among others.
Author Name : Saurav Kumar
Light field market to garner lucrative proceeds via media & entertainment applications, Latin America to emerge as a profitable investment hub
One of the most swiftly progressing verticals of the global smart technologies space, light field market has come a long way since its inception owing to pathbreaking inventions to capture the 3D and 4D light fields. The gradually rising popularity of light field cameras across several business verticals such as industrial, healthcare, retail, entertainment and media, and automotive has certainly propelled the product demand in the recent years. As light field cameras are equipped with thousands of micro lenses between the main lens and the sensor, it lets the user shoot first and focus later which ensures an improved image resolution. Numerous companies appear proactive in adopting light field technology and are developing high-grade products – a factor that would widen the horizon of light field industry in the years ahead.
Japan light field market, by application, 2017 & 2024 (USD Million)
Adoption of light field technology in the entertainment and media sector is altering the contours of the overall industry
One of the major factors that has provided a significant impetus to the light field industry progression is the rapidly expanding entertainment and media application of this technology. In fact, as per a research report prepared by Global Market Insights, Inc., the entertainment and media application apportioned more than 25 percent of the total revenue share of the industry in 2017 – impressive statistics that signify the extensive future growth of this application. This technology is being increasingly incorporated in numerous entertainment medias including amusement parks, theaters, gaming, museums, and apps, predominantly through virtual reality (VR) headsets. Apparently, the light field technology has seemingly demonstrated a new level of how convincing VR experiences can be.
A recent instance lending credibility to the claims of using light field technology effectively in VR is of Google, who has been experimenting with this technology over the last few years. In 2018, the search engine giant released a free application, named ‘Welcome to Light Fields’, mainly to exhibit the potential of this technology. Notably, the application has been made available on Steam VR for Windows, Oculus Rift, and HTC Vive VR headsets.
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Speaking along similar lines, it has also been recently reported that Google acquired Silicon Valley-based imaging startup Lytro, which is best known for developing the world’s first light field camera and has numerous patents to its name in VR-related imaging technology. With this acquisition, it is being speculated that the company might be looking to strengthen either its VR gaming initiatives or its camera offering in Pixel phones, which is quite unsurprising as prominent players operating in gaming sector are improving customer experience by integrating VR into games. Considering the impact of the top of the line acquisitions and innovative products being unveiled by major tech magnates like Google, the entertainment and media application of the light field industry is undoubtedly set to escalate at an exceptional pace in the ensuing years.
Latin America to emerge as a major revenue pocket for light field industry
Anticipated to register an annual growth rate of more than 16 percent over the forecast timeframe, Latin America has gradually emerged as a lucrative investment avenue for potential stakeholders. The rapidly expanding retail sector in Latin American nations has compelled the major retailers to adopt and leverage new technologies to gain competitive advantage. In this regard, it would be prudent to mention that the proliferation of AR and VR technologies has been assisting the retail sector to improve customer experience and brand engagement ratio.
The brick-and-mortar retail outlets are launching interactive experience devices such as mixed reality headsets to enhance the shopping experience, essentially fueling the growth potential of Latin America light field industry. In addition to the retail sector, the light field technology is being increasingly utilized across other business verticals such as automotive and hospitality, which would, in turn, strengthen the product demand in the times to come.
With light field technology being increasingly used in imaging solution processes along the likes of layout & animation, image construction, 3D scanning, 3D rendering, and 3D mapping and modeling, it remains to be seen how this technology impacts the future of mixed-reality products. However, it is quite imperative to mention that the growth trajectory of light field market appears highly-promising owing to the technology’s potential to drastically change the product portfolio of several business verticals. For the record, the commercialization scale of the global light field industry is slated to surpass USD 1.5 billion by 2024.
Author Name : Saif Ali Bepari