#Regional Forecast for Automotive Camera Adoption

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Driving Safely into the Future: Automotive Camera Market Dynamics Unveiled

Uncover the intricate dynamics propelling the automotive camera market forward. From park assist to blind spot detection, explore the applications steering the industry. Analyze the impact of infrared, thermal, and digital camera technologies across passenger, light commercial, and heavy commercial vehicles. Peer into the future with a regional forecast, predicting the dynamics of automotive camera system adoption globally.

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Lithium-ion Battery Market 2030 Size Outlook, Growth Insight, Share, Trends

In 2023, the global lithium-ion (Li-ion) battery market was estimated to be worth USD 54.4 billion and is projected to grow at a compound annual growth rate (CAGR) of 20.3% from 2024 to 2030. This growth is largely driven by rising demand for electric vehicles (EVs), supported by the cost-effectiveness and energy efficiency of Li-ion batteries. The automotive sector, in particular, is expected to see significant expansion due to the increasing global registration of EVs, as more consumers seek cleaner and more sustainable transport options. In the United States, the largest North American market for Li-ion batteries in 2023, federal policies and the presence of key industry players are anticipated to drive further product demand. Government policies, such as tax incentives for EV purchases under the American Recovery and Reinvestment Act of 2009, as well as fuel efficiency standards introduced by the Corporate Average Fuel Economy (CAFE) regulations, have accelerated the shift towards electric drive technologies in both passenger cars and light commercial vehicles (LCVs).

In addition to the automotive sector, the demand for Li-ion batteries in consumer electronics is also driving market growth. As consumers seek more durable and energy-efficient devices, lithium-ion batteries are becoming a preferred choice for smartphones, tablets, and other electronics due to their long lifespan and high performance. The demand for EVs is similarly bolstered by growing awareness of carbon emissions and the environmental impact of traditional gasoline-powered vehicles, which motivates consumers to adopt cleaner alternatives. This trend is supported by regulatory pressures on lead-acid batteries due to environmental concerns. Specifically, regulations set by the Environmental Protection Agency (EPA) aim to reduce lead contamination and govern the storage, disposal, and recycling of lead-acid batteries, prompting a shift towards safer Li-ion battery solutions for automotive applications.

Gather more insights about the market drivers, restrains and growth of the Lithium-ion Battery Market

Mexico has also emerged as a strategic center for the global automotive industry, attracting investments from companies worldwide due to its large automotive production capacity. As the fourth-largest exporter of vehicles globally, following Germany, Japan, and South Korea, Mexico's automotive production is expected to further stimulate demand for lithium-ion batteries in the region. However, the market faced challenges during the COVID-19 pandemic. Battery providers had to adapt by reducing operational costs due to lower demand and by managing disruptions in the supply of spare parts caused by reduced manufacturing activity and logistical issues. To maintain service quality for clients with long-term contracts, suppliers turned to digital tools and implemented strict health and safety measures, including social distancing and personal protective equipment, to ensure safe on-site maintenance and repair services where necessary.

Application Segmentation Insights:

The Li-ion battery market is categorized into several application segments: automotive, consumer electronics, industrial, medical devices, and energy storage systems. In 2023, the consumer electronics segment led the market, accounting for over 31% of total revenue. Portable lithium-ion batteries are widely used in consumer electronics due to their compact size, high energy density, and rechargeability. They are incorporated into various devices, including mobile phones, laptops, tablets, LED lighting, digital cameras, wristwatches, hearing aids, and other wearable gadgets. This high demand for portable devices has positioned the consumer electronics segment as a dominant sector in the market.

The electric and hybrid EV market is anticipated to be the fastest-growing application segment over the forecast period. Rising fossil fuel prices and increased awareness of the environmental benefits of battery-operated vehicles are expected to drive this growth, especially in emerging markets across Asia-Pacific, Europe, and North America. Moreover, Li-ion batteries are widely utilized for backup power solutions in commercial settings, such as data centers, office buildings, and institutions. In residential applications, Li-ion batteries are becoming popular for energy storage in solar photovoltaic (PV) systems, enhancing the growth potential of the energy storage segment.

Li-ion batteries are also gaining traction in various industrial applications. They are commonly used in power tools, cordless tools, marine equipment, agricultural machinery, industrial automation systems, aviation, military & defense, civil infrastructure, and the oil and gas sector. The versatility of Li-ion batteries, combined with their ability to deliver consistent power across diverse conditions, makes them ideal for these industries. Their use in such a broad range of applications is projected to further boost market demand as industries seek reliable and efficient energy solutions that can support both heavy-duty equipment and everyday electronic devices.

In summary, the lithium-ion battery market is poised for rapid growth across multiple sectors. The automotive and consumer electronics segments, in particular, are driving demand, supported by governmental policies, environmental concerns, and technological advancements. The expansion into applications like energy storage and industrial machinery further underscores the adaptability and efficiency of Li-ion batteries, positioning them as a critical component of future energy solutions across the globe.

Order a free sample PDF of the Lithium-ion Battery Market Intelligence Study, published by Grand View Research.

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Lithium-ion Battery Industry Strategies With Forecast Till 2030

In 2023, the global lithium-ion (Li-ion) battery market was estimated to be worth USD 54.4 billion and is projected to grow at a compound annual growth rate (CAGR) of 20.3% from 2024 to 2030. This growth is largely driven by rising demand for electric vehicles (EVs), supported by the cost-effectiveness and energy efficiency of Li-ion batteries. The automotive sector, in particular, is expected to see significant expansion due to the increasing global registration of EVs, as more consumers seek cleaner and more sustainable transport options. In the United States, the largest North American market for Li-ion batteries in 2023, federal policies and the presence of key industry players are anticipated to drive further product demand. Government policies, such as tax incentives for EV purchases under the American Recovery and Reinvestment Act of 2009, as well as fuel efficiency standards introduced by the Corporate Average Fuel Economy (CAFE) regulations, have accelerated the shift towards electric drive technologies in both passenger cars and light commercial vehicles (LCVs).

In addition to the automotive sector, the demand for Li-ion batteries in consumer electronics is also driving market growth. As consumers seek more durable and energy-efficient devices, lithium-ion batteries are becoming a preferred choice for smartphones, tablets, and other electronics due to their long lifespan and high performance. The demand for EVs is similarly bolstered by growing awareness of carbon emissions and the environmental impact of traditional gasoline-powered vehicles, which motivates consumers to adopt cleaner alternatives. This trend is supported by regulatory pressures on lead-acid batteries due to environmental concerns. Specifically, regulations set by the Environmental Protection Agency (EPA) aim to reduce lead contamination and govern the storage, disposal, and recycling of lead-acid batteries, prompting a shift towards safer Li-ion battery solutions for automotive applications.

Gather more insights about the market drivers, restrains and growth of the Lithium-ion Battery Market

Mexico has also emerged as a strategic center for the global automotive industry, attracting investments from companies worldwide due to its large automotive production capacity. As the fourth-largest exporter of vehicles globally, following Germany, Japan, and South Korea, Mexico's automotive production is expected to further stimulate demand for lithium-ion batteries in the region. However, the market faced challenges during the COVID-19 pandemic. Battery providers had to adapt by reducing operational costs due to lower demand and by managing disruptions in the supply of spare parts caused by reduced manufacturing activity and logistical issues. To maintain service quality for clients with long-term contracts, suppliers turned to digital tools and implemented strict health and safety measures, including social distancing and personal protective equipment, to ensure safe on-site maintenance and repair services where necessary.

Application Segmentation Insights:

The Li-ion battery market is categorized into several application segments: automotive, consumer electronics, industrial, medical devices, and energy storage systems. In 2023, the consumer electronics segment led the market, accounting for over 31% of total revenue. Portable lithium-ion batteries are widely used in consumer electronics due to their compact size, high energy density, and rechargeability. They are incorporated into various devices, including mobile phones, laptops, tablets, LED lighting, digital cameras, wristwatches, hearing aids, and other wearable gadgets. This high demand for portable devices has positioned the consumer electronics segment as a dominant sector in the market.

The electric and hybrid EV market is anticipated to be the fastest-growing application segment over the forecast period. Rising fossil fuel prices and increased awareness of the environmental benefits of battery-operated vehicles are expected to drive this growth, especially in emerging markets across Asia-Pacific, Europe, and North America. Moreover, Li-ion batteries are widely utilized for backup power solutions in commercial settings, such as data centers, office buildings, and institutions. In residential applications, Li-ion batteries are becoming popular for energy storage in solar photovoltaic (PV) systems, enhancing the growth potential of the energy storage segment.

Li-ion batteries are also gaining traction in various industrial applications. They are commonly used in power tools, cordless tools, marine equipment, agricultural machinery, industrial automation systems, aviation, military & defense, civil infrastructure, and the oil and gas sector. The versatility of Li-ion batteries, combined with their ability to deliver consistent power across diverse conditions, makes them ideal for these industries. Their use in such a broad range of applications is projected to further boost market demand as industries seek reliable and efficient energy solutions that can support both heavy-duty equipment and everyday electronic devices.

In summary, the lithium-ion battery market is poised for rapid growth across multiple sectors. The automotive and consumer electronics segments, in particular, are driving demand, supported by governmental policies, environmental concerns, and technological advancements. The expansion into applications like energy storage and industrial machinery further underscores the adaptability and efficiency of Li-ion batteries, positioning them as a critical component of future energy solutions across the globe.

Order a free sample PDF of the Lithium-ion Battery Market Intelligence Study, published by Grand View Research.

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Automotive Body-in-white Market Projections: Global Industry Analysis and Forecast (2023-2032)

The global automotive body-in-white market has grown steadily in recent years and is predicted to increase at a CAGR of 2.50% between 2023 and 2030. In 2022, the market was worth USD 79.2 billion, and it is predicted to grow to USD 94.5 billion by 2030.

The automotive body-in-white (BIW) refers to the stage in vehicle manufacturing where a car body’s frame, made primarily from welded sheet metal components, is constructed before moving on to painting and final assembly. At this stage, all structural and non-moving components are assembled into a single shell, which includes the vehicle’s roof, door frames, side panels, and pillars. The BIW structure is critical to vehicle safety, durability, and weight, making it essential for automotive manufacturers to focus on materials and design that optimize strength while minimizing weight. Lightweight materials, such as high-strength steel, aluminum, and composites, are increasingly used in BIW production to meet stringent fuel efficiency and emission standards. Advances in manufacturing techniques, such as laser welding, robotic assembly, and adhesive bonding, are also transforming BIW construction, allowing for enhanced precision and durability. As the automotive industry moves toward electric and autonomous vehicles, BIW designs are evolving to incorporate features for battery placement, sensor integration, and structural rigidity, highlighting the BIW’s pivotal role in vehicle innovation.

The automotive body-in-white (BIW) market is set for considerable growth, fueled by several opportunities linked to advancements in materials, manufacturing processes, and automotive trends. Key growth opportunities include:

Increased Demand for Lightweight Materials: With stringent fuel efficiency and emissions regulations, manufacturers are focusing on reducing vehicle weight, creating a strong demand for lightweight BIW materials such as high-strength steel, aluminum, and carbon fiber composites. These materials allow manufacturers to enhance fuel economy without compromising safety.

Growth of Electric Vehicles (EVs): The rapid adoption of EVs opens up new design possibilities and structural requirements for BIW, as these vehicles need reinforced frameworks to support heavy batteries while maximizing interior space. This shift is driving innovation in BIW materials and layouts to accommodate battery modules and improve energy efficiency.

Advancements in Manufacturing Techniques: Emerging technologies such as laser welding, adhesive bonding, and robotic assembly enhance BIW production by increasing precision, improving structural strength, and reducing assembly time. These techniques offer manufacturers cost-efficient solutions to achieve high-quality, durable frames.

Adoption of Modular BIW Design: Modular design approaches enable manufacturers to streamline production by using standardized BIW components across different models, reducing costs and enhancing manufacturing flexibility. This trend is especially relevant for global manufacturers looking to optimize production for diverse markets.

Growing Popularity of Autonomous Vehicles: Autonomous vehicle development requires BIW structures that can support an array of sensors, cameras, and LiDAR systems, while also ensuring safety. This need for integrated BIW solutions creates opportunities for customized designs that cater specifically to autonomous vehicle requirements.

Expansion in Emerging Markets: As vehicle production expands in emerging economies, particularly in Asia-Pacific and Latin America, there is a rising demand for cost-effective, lightweight, and efficient BIW solutions. Growth in these regions is driven by increasing vehicle sales, urbanization, and economic development.

Sustainability and Recyclable Materials: Consumer and regulatory demands for sustainable practices are pushing manufacturers to use recyclable materials and eco-friendly production techniques in BIW manufacturing. Recyclable aluminum and high-strength steels, which reduce environmental impact, are gaining traction in this shift toward sustainable BIW solutions.

Increased Focus on Safety Standards: As global safety standards become more stringent, there is a need for BIW designs that enhance crashworthiness and passenger protection. Advanced BIW materials and engineering approaches that absorb and distribute impact forces offer growth opportunities for safety-focused innovations.

Collaborations and Joint Ventures: Partnerships between material suppliers, automotive OEMs, and technology companies are creating avenues for shared research and development, especially in lightweight materials, advanced welding techniques, and modular designs, accelerating BIW innovation.

R&D Investments in Hybrid Material BIWs: Hybrid BIW structures that combine materials, like steel-aluminum composites, optimize weight and strength, offering an attractive solution for performance and cost. Investments in R&D to develop these materials are growing, allowing for lighter, more durable BIW solutions.

Access Complete Report - https://www.credenceresearch.com/report/automotive-body-in-white-market

Key Players

Thyssenkrupp AG

Tata Steel Limited

Kuka AG

TECOSIM Group

Magna International Inc.

ABB Corporation

Gestamp Automocion SA

Aisin Seiki Co. Limited

Dura Automotive Systems

Tower International

CIE Automotive

Benteler International

Norsk Hydro ASA

The automotive body-in-white (BIW) market is influenced by several trending factors as the industry adapts to changing technologies, consumer demands, and regulatory pressures. Key trending factors include:

Lightweighting for Fuel Efficiency: With stricter fuel efficiency and emission regulations, reducing vehicle weight has become a priority. This trend is driving a shift from traditional materials like mild steel to lighter alternatives such as high-strength steel, aluminum, and composite materials, enabling manufacturers to improve fuel economy while meeting safety standards.

Increased Demand from Electric Vehicles (EVs): The rise of EVs has reshaped BIW requirements, as electric vehicles require reinforced and optimized structures to support battery packs and maximize range. BIW designs are increasingly incorporating materials and layouts specifically tailored to enhance energy efficiency and accommodate battery systems.

Modular and Flexible BIW Designs: Manufacturers are adopting modular BIW designs to increase production flexibility and efficiency. Modular platforms enable the same BIW components to be used across multiple vehicle models, streamlining manufacturing, reducing costs, and enabling faster model variations for a range of vehicle segments.

Advancements in Joining Techniques: The use of advanced joining technologies, such as laser welding, adhesive bonding, and friction-stir welding, allows for stronger, lighter, and more precise BIW assemblies. These methods are particularly important as they enable multi-material construction, a critical factor in lightweight BIW design.

Focus on Crashworthiness and Safety: As safety regulations become more stringent worldwide, automakers are investing in BIW structures that improve crashworthiness. Trends in BIW design now include crumple zones, high-strength materials in critical areas, and optimized load paths to protect occupants during collisions.

Integration of Autonomous Vehicle (AV) Features: Autonomous vehicle development requires BIW designs that accommodate sensors, cameras, and other autonomous driving components. This trend leads to specialized BIW frameworks that support integrated technology while maintaining safety and structural integrity.

Increased Use of High-Strength Steel (HSS) and Ultra-High-Strength Steel (UHSS): These materials offer excellent strength-to-weight ratios and are becoming popular in BIW construction. HSS and UHSS enable manufacturers to reduce weight without compromising safety, balancing cost-effectiveness with performance.

Sustainability and Eco-Friendly Materials: Environmental concerns and regulations around carbon emissions are encouraging the use of recyclable materials in BIW production. Eco-friendly production processes and the use of sustainable materials, like recycled aluminum, are gaining popularity as automakers seek to lower their carbon footprint.

Digitalization and Smart Manufacturing: Automation, robotics, and data-driven processes are increasingly used in BIW manufacturing to enhance precision, reduce waste, and optimize production. Technologies like digital twins and IoT-driven quality checks enable real-time monitoring and efficient assembly.

Growing Popularity of Mixed Material BIWs: Mixed material BIWs, which combine materials like aluminum, carbon fiber, and high-strength steel, are trending as they provide an optimal balance of weight, strength, and cost. These hybrid structures are especially relevant for performance vehicles, luxury segments, and EVs where weight reduction is crucial.

Segmentation

By Vehicle Type

Passenger Vehicles

Commercial Vehicles

By Propulsion Type

IC Engines

Electric Vehicles

By Material Type

Aluminium

Steel

Composites

Other Material Types

By Material Joining Technique

Welding

Clinching

Laser Brazing

Bonding

Other Material Joining Techniques

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Lithium-ion Battery Industry Size & Share Analysis by Type and Region, Forecast Report, 2030

The global lithium-ion battery market, valued at approximately USD 54.4 billion in 2023, is set to expand significantly, with a projected compound annual growth rate (CAGR) of 20.3% from 2024 to 2030. This growth is driven primarily by the automotive sector, which is poised for notable expansion due to the cost-effectiveness of lithium-ion batteries. The adoption of electric vehicles (EVs) worldwide is anticipated to surge throughout the forecast period, further boosting demand for lithium-ion batteries.

The United States led the North American lithium-ion battery market in 2023, largely due to increasing EV sales supported by favorable federal policies and the presence of numerous industry players. U.S. federal policies encouraging EV adoption include the American Recovery and Reinvestment Act of 2009, which offers tax credits for electric vehicle purchases. Additionally, updated Corporate Average Fuel Economy (CAFE) standards have introduced stricter fuel economy requirements for passenger cars and light commercial vehicles (LCVs), promoting the expansion of electric drive technologies.

Gather more insights about the market drivers, restrains and growth of the Lithium-ion Battery Market

The rising demand for lithium-ion batteries extends beyond the automotive sector to the electronics industry, where these batteries are widely used in smartphones. Lithium-ion batteries provide longer shelf life and greater efficiency for devices, further propelling market growth. Furthermore, increasing consumer awareness about carbon emissions is driving demand for EVs, which is expected to fuel lithium-ion battery market growth. Regulatory restrictions on lead-acid batteries in response to environmental concerns such as the Environmental Protection Agency's (EPA) restrictions on lead contamination and regulations regarding the storage, disposal, and recycling of lead-acid batteries are contributing to the shift towards lithium-ion batteries in automotive applications. Mexico, as a significant hub in the global automotive industry, is becoming a focal point for international investments, adding further momentum to the growth of the lithium-ion battery market.

Product Segmentation Insights:

The lithium-ion battery market is segmented by product types, which include Lithium Cobalt Oxide (LCO), Lithium Iron Phosphate (LFP), Lithium Nickel Cobalt Aluminum Oxide (NCA), Lithium Manganese Oxide (LMO), Lithium Titanate (LTO), and Lithium Nickel Manganese Cobalt (NMC). Among these, the LCO segment held the largest market share, accounting for over 30% of total revenue in 2023. This strong demand for LCO batteries is largely driven by their high energy density and safety features, making them ideal for use in mobile devices like smartphones, tablets, laptops, and cameras.

Lithium iron phosphate (LFP) batteries are gaining popularity due to their excellent safety profile and long lifespan, which make them suitable for high-load and enduring applications in both portable and stationary devices. The demand for NCA batteries is also rising due to their high specific energy, specific power, and long-life span, qualities that make them a preferred choice in electric vehicles, medical devices, and various industrial applications. Lithium titanate (LTO) batteries are increasingly being utilized in applications such as electric powertrains, street lighting, uninterruptible power supplies (UPS), and solar-powered streetlights. LTO batteries are known for their superior safety, strong performance at low temperatures, and long life, which is expected to bolster their market share over the forecast period.

Order a free sample PDF of the Lithium-ion Battery Market Intelligence Study, published by Grand View Research.

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Meticulous Research® has published a new report titled “Smart Manufacturing Market by Technology, Application, End-use Industry, and Geography - Global Forecast to 2031.” The report predicts that the smart manufacturing market will reach $733.4 billion by 2031, growing at a CAGR of 24.6% from 2024 to 2031. This growth is fueled by a rising demand for reduced operational costs via predictive maintenance, increased AI and ML integration, and the expanded use of 3D printing.

However, challenges such as high capital and operating expenses, a shortage of skilled personnel, and privacy concerns may hinder market expansion. The advent of 5G connectivity and a surge in smart manufacturing adoption in developing countries present substantial growth opportunities. The report also highlights a notable trend in advanced human-robot collaboration.

The smart manufacturing market is segmented by technology, application, end-use industry, and geography. In 2024, the industrial Internet of Things (IoT) segment is expected to dominate, accounting for over 33.4% of the market, driven by the need for improved operational visibility and efficiency. The surveillance and safety application is projected to capture over 21.1% of the market, fueled by investments in 5G networks and smart cameras.

By end-use industry, the automotive segment is anticipated to hold the largest share at over 14.3%, due to increased smart manufacturing adoption to optimize production. Geographically, the Asia-Pacific region is expected to lead with over 37.3% of the market share, supported by the rise of manufacturing hubs and cloud-based solutions.

Key players in this market include IBM, Siemens, Microsoft, SAP, ABB, and others, highlighting the competitive landscape of smart manufacturing.

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Collaborative Robots Market Size, Share, Growth and Industry Trends, 2030

The global collaborative robots market size is anticipated to reach USD 11.04 billion by 2030, exhibiting a CAGR of 32.0% over the forecast period, according to a new report published by Grand View Research, Inc. The growth can be credited to the growing inclination of industries toward collaborative robots or cobots to automate manufacturing processes.

Over the past few years, the growing interest in robot technology across various industries has positively impacted the collaborative robots industry. Unlike conventional industrial robots, cobots are developed to operate at par with their human counterparts. They are mobile and can be easily moved from one area of a manufacturing facility to another. Moreover, they can be programmed with ease, are more cost-effective than their fixed counterparts, and can be used in a wide range of low-speed, repetitive applications.

The increasing need for highly efficient and user-friendly robots that do not require highly skilled experts for deployment and functioning has created a significant demand for software platforms. These platforms allow the integration of robots, motion control, and the generation of an interface that enables the programming of such robots. For instance, Mitsubishi Electric Corporation has launched a cobot named MELFA ASSISTA equipped with RT VisualBox, the company’s engineering software. This software allows the intuitive creation of operating sequences by connecting block diagrams in a chain of events, including linking with other devices, such as cameras and the hands of the robot.

Gather more insights about the market drivers, restrains and growth of the Collaborative Robots Market

Detailed Segmentation:

Application Insights

The gluing & welding segment is expected to witness the highest CAGR over the forecast period, which can be attributed to various benefits offered by cobots such as reduced waste, increased consistency, quality, and output product gaining attention from marketers. The assembly application segment captured a sizeable revenue share of around 23.0% across the collaborative robots market in 2022, owing to the increased usage of cobots for combining easy and repetitive tasks and supporting complex assembly processes.

Payload Capacity Insights

The up to 5kg payload capacity segment held a revenue share of more than 44% in 2022 and is anticipated to show remarkable growth in the future owing to its wide range of attributes. They are light in weight and offer flexibility while optimizing low-weight collaborative processes such as picking, placing, and testing. The launch of advanced cobots in this payload capacity range is opening new growth opportunities for the market. For instance, in March 2021, Comau S.p.A. launched a cost-effective cobot named Racer-5 suitable for packaging and warehousing. This advanced cobot works at an industrial speed of up to 6 m/s and has a 5kg payload capacity which facilitates seamless operations.

Vertical Insights

The automotive segment accounted for a revenue share of more than 24% in 2022 and is expected to grow substantially over the forecast period. The growth can be largely attributed to the increased adoption of collaborative robots owing to their ability to reduce floor space and the cost of production downtime. In addition to this, they find important usage in spot and arc welding, assembling parts, painting, coating, etc. Furthermore, the implementation of collaborative robots helps the automotive industry to increase productivity, resulting in increased demand over the forecast period.

Regional Insights

Europe is a remunerative hub for collaborative robots and captured a significant revenue share of more than 30.0% in 2022. This can be chiefly credited to the enormous application of collaborative robots across various verticals, including logistics, electronics, and inspection. Moreover, various advantages such as efficient manufacturing optimization solutions and increased collaboration offered by automation at the workplace are also expected to support the market expansion.

Browse through Grand View Research's Next Generation Technologies Industry Research Reports.

• The global robotic platform market size was estimated at USD 9.97 billion in 2023 and is projected to grow at a CAGR of 5.9% from 2024 to 2030.

• The global drone charging station market size was estimated at USD 0.43 billion in 2023 and is expected to grow at a CAGR of 6.5% from 2024 to 2030.

Key Companies & Market Share Insights

The major companies operating in the collaborative robots industry are inclined to introduce innovative offerings to gain a competitive edge in the market. For instance, in February 2021, ABB Group expanded its collaborative robot portfolio with the introduction of the SWIFTI and GoFa cobot range, delivering higher speeds and payloads. This new range complements ABB’s cobot line-up of YuMi and Single Arm YuMi and is faster, stronger, and more capable.

It has been designed to support high-growth segments such as consumer goods, electronics, healthcare, logistics, food, and beverage, etc. Additionally, in November 2022, Epson America, Inc. announced the expansion of the VT6L-Series through the launch of the VT6L-DC All-in-One 6-Axis Robot. The newly launched product is ideal for mobile solutions and delivers next-level technology that helps to improve operational efficiency. 

Some prominent players in the global collaborative robots market include:

• ABB Group

• DENSO Robotics

• Epson Robots

• Energid Technologies Corporation

• F&P Robotics AG

• Fanuc Corporation

• KUKA AG

• MRK-Systeme GmbH

• Precise Automation, Inc

• Rethink Robotics, Inc

• Robert Bosch GmbH

• Universal Robots A/S

• Yaskawa Electric Corporation

• MABI Robotic AG

• Techman Robot Inc.

• Franks Emika Gmbh

• AUBO Robotics

• Comau S.p.A.

Collaborative Robots Market Segmentation

Grand View Research has segmented the global collaborative robots market based on payload capacity, application, vertical, and region:

Collaborative Robots Payload Capacity Outlook (Revenue, USD Billion, 2018 - 2030)

• Upto 5kg

• Upto 10kg

• Above 10kg

Collaborative Robots Application Outlook (Revenue, USD Billion, 2018 - 2030)

• Assembly

• Pick & Place

• Handling

• Packaging

• Quality Testing

• Machine Tending

• Gluing & Welding

• Others

Collaborative Robots Vertical Outlook (Revenue, USD Billion, 2018 - 2030)

• Automotive

• Food & Beverage

• Furniture & Equipment

• Plastic & Polymers

• Metal & Machinery

• Electronics

• Pharma

• Others

Collaborative Robots Regional Scope (Revenue, USD Billion, 2018 - 2030)

• North America

o U.S.

o Canada

o Mexico

• Europe

o Germany

o U.K.

o France

• Asia Pacific

o China

o Japan

o India

• South America

o Brazil

• Middle East and Africa

Order a free sample PDF of the Collaborative Robots Market Intelligence Study, published by Grand View Research.

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Foldable Display Market Size, Share, Growth, Trends and Forecast 2024-2032

Foldable Display: An Overview

Flexible display technologies like OLED and AMOLED have been propelling the market for foldable displays. This is accompanied by increased demand from consumers for multi-use devices that can have a bigger screen size while still being portable. The segment initially began with foldable smartphones but now includes applications in laptops, wearables, tablets, and automotive applications. Innovation leaders: Samsung, Huawei, LG Display, and BOE Technology Group are in pole position in researching and developing higher durability, but at a reasonably lower cost of production. Though production costs are extremely high, and durability is yet to be ideal in use, continuous progress, and growing consumer interest in premium, multifunction devices are expected to propel the folded display market in significant ways for over a decade. The market share holder in this market is Asia-Pacific, due to the powerful manufacturing capacities and because of the increasing adoption of cutting-edge devices, followed by North America and Europe, which also exhibit increasing growth.

According to the Univdatos Market Insights, increasing consumer demand for multi-functional devices, advancements in OLED and AMOLED technology, heavy investments from OEMs, and expansion of 5G networks will drive the global scenario of the Foldable Display market. As per their “Foldable Display Market” report, the global market was valued at USD 4,817.2 Million in 2023, growing at a CAGR of 27.4% during the forecast period from 2024 - 2032.

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Foldable Display Overview in APAC

In terms of geographical split, the largest proportion of the foldable display is dominated by the Asia-Pacific (APAC) region, mainly on account of its status as a global electronics manufacturing hub and innovation center. Flexibilities of a foldable display are further diversified based on its screen curvature, e.g., in terms of convex and concave types. Thus, to cater to the demand for such flexibilities, players of strong manufacturing infrastructures, such as South Korea, China, and Japan, are positioned closely in the APAC region, while major players, including Samsung Display, LG Display, and BOE Technology Group, are headquartered in this region, with the former having been the key developers of flexible OLED and AMOLED technology. This generates strong demand for premium, high-end devices in the countries and has further accelerated due to the widespread adoption of 5G technology. Besides this, the region has developed a strong supply chain and has been working on significant R&D initiatives, making foldable displays a fast-growing area among applications such as smartphones, laptops, and automotive.

Foldable Display Market in China

China is the hub of foldable display innovations and productions; in fact, several major manufacturers are based in China. Companies such as BOE Technology Group, Visionox, and Royole Corporation in China stand atop developing flexible OLED and AMOLED technology. Such companies are not just producing foldable displays for internal markets but also are key suppliers to global manufacturers, so China forms integral parts of the supply chain for foldable devices internationally.

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Key Factors Driving China’s Market Leadership:

1.      Manufacturing Capacity: China houses the largest and most advanced manufacturing infrastructures for display technologies. Companies like BOE Technology have ramped up their flexible displays' production speed, which they declared to be mass-producible; therefore, this makes the cost of producing them relatively low. It has thus catapulted China to become one of the primary players in the quest by regions to rise and fill the rising global demand for foldable displays.

2.      Government Supports: The government of China has been very proactive in the support process towards developing advanced display technologies. Several subsidies, incentives, and other benevolent policies announced by the Chinese government encouraged domestic firms to invest in R&D so that they could compete on the global stage with established players like Samsung.

3.      Technological development: For the most part, BOE Technology and Visionox are succeeding in pioneering OLED and AMOLED technologies. There has been exceptional strength improvement, and increased brightness and energy efficiency in flexible displays, thus indicating that these may suit a more wide range of applications like smartphones, laptops, and automotive displays.

4.      Domestic Demand: China is currently one of the world's largest consumer electronics markets. With consumers in this country fast moving towards high technology, demand for premium devices has increased rapidly, thus ensuring very high growth in domestic demand for foldable displays. This means that Chinese firms have an already developed market into which they can test and perfect their technologies before spreading them to an international audience.

5.      Strategic partnerships: Chinese display companies have forged partnerships with top electronics companies around the world and are supplying foldable display panels to many of the world's leading brands. For example, the world's two biggest phone makers, China's Huawei and Xiaomi, have integrated foldable display technology into their high-end flagship models. China has led the world once again in folding screens.

6.      R&D Investment: Chinese companies are highly investing in research and development to improve foldable display technology. This includes improvements in hinge mechanisms, screen resistance, and the reduction of the "crease" that manifests in foldable displays. Companies like Royole Corporation were one of the pioneers in foldable displays, and their innovations keep China at the top of the technological race.

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Conclusion

In Conclusion, the Asia-Pacific region- especially China-is a leader around the globe in the foldable display market in terms of robust manufacturing capabilities, rapid technological advancement, and consumer demand for innovative devices. The APAC region can be portrayed as having great strength, thanks to the countries leading the front, such as South Korea, China, and Japan, owing to a strong supply chain and healthy R&D investments. Notably, related developments in the Chinese market are of special interest to these trends. Companies like BOE Technology and Royole Corporation have led the charge in flexible OLED and AMOLED technology. Government support, strong domestic demand, and strategic partnerships have furthered the influence of China in the industry by placing it as a key participant in the supply chain of foldable displays globally. As the cost to produce falls and technology increases, there will be growth in both APAC and China's foldable display market, with the remaining firms in the market. 

[harshitasoni]

Driving Safely into the Future: Automotive Camera Market Dynamics Unveiled

Embrace a visionary perspective on automotive safety, dissecting market trends in applications like lane departure warning and blind spot detection. Analyze the technological landscape shaped by infrared, thermal, and digital cameras across passenger, light commercial, and heavy commercial vehicles. Forecast regional shifts, offering insights into the widespread integration of automotive camera systems market.

[communicationblogs]

Advanced Driver Assistance Systems Market — Forecast(2024–2030)

Advanced Driver Assistance Systems Market Overview

The Advanced Driver Assistance Systems Market is forecast to reach $91.8 billion by 2025, by growing a CAGR of 20.9% during the forecast period 2019–2025. The market is mainly driven by the technological advancements in the sensor technology. For instance, improved technology in radar and lidar sensor has increased the accuracy in measuring distance between the vehicle and the object. Due to these advancement in sensor technology, Advanced Driver Assistance Systems device are now able to perform more complex operation such as adaptive cruise control, blind spot monitor, collision avoidance system, lane departure warning systems, and driver monitoring system. Similarly, the introduction of stringent government policy in some countries are forcing manufacturers to deploy ADAS system in every vehicle in order to improve Road safety. For Instance, in 2018, India proposed to make the ADAS system mandatory in the country by 2023 to enhance the road safety.

Report Coverage

The report: “Advanced Driver Assistance Systems Market — Forecast (2019–2025)”, by IndustryARC covers an in-depth analysis of the following segments of the Image Sensors Market.

By Type of Engine : Internal Combustion Engine, Electric engine.

By Vehicle Type : Passenger Vehicle, Light Commercial Vehicle (LCV), Heavy Commercial Vehicle (HCV).

By Sensors installed : Image sensors, Radar sensors, Laser sensors, Ultrasonic sensors, Infrared sensors, Capacitive sensor, Biometric sensor.

By Application : Adaptive cruise control (ACC), Blind spot monitor, Collision avoidance system (Pre-crash system), Driver monitoring system, Others.

By Geography : North America, South America, Europe, APAC, RoW.

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Key Takeaways

The advancement in sensor technology has increased the capability of ADAS system which is anticipated to drive the market during the forecast period 2019–2025.

The market is consolidated with top players holding approximately 60% of the market share. The market is witnessing partnership between automotive manufacturers, ADAS technology providers, and sensor manufacturers to optimize the supply chain.

APAC contributes the majority of the market share owing to growing production of passenger vehicle. Similarly, the government initiatives in India to mandate ADAS system in vehicle is likely to accelerate the demand for the product in this region.

Advanced Driver Assistance Systems Market Segment Analysis — By Application

Driver monitoring system is the fastest growing segment in ADAS Market in 2018. Driver monitoring system uses various types of sensors to identify the state and behavior changes of the driver. At times, when drowsiness, fatigue, distraction and other disturbing patterns are sensed by the system it sends an alert message to the driver to take a break. Similarly, automotive companies are planning to combine the vestibular-ocular reflex (VOR), a drowsiness detection system, with the prediction system in the vehicles. Implementation of this advance combination will identify the driver behavior a few minutes prior the driver starts to experience drowsiness. In 2018, Eyesight, a leader in edge computer vision solutions announced collaboration with Samsung Electronics for integrating its advanced AI based computer vision driver monitoring software into Samsung’s in-cabin camera software which is capable of monitoring driver’s gaze direction, pupil dilation, blink rate, head position, eye openness to detect drowsiness and distraction.

Advanced Driver Assistance Systems Market Segment Analysis — By Geography

APAC holds the major share of Advanced Driver Assistance Systems Market due to an increase in production of passenger cars from 43,505 thousand in 2018 to 44,646 thousand by 2019. As a lot of modern day passenger car manufacturers are widely adopting ADAS system, the Advanced Driver Assistance Systems Market is likely to grow along with increase in the number of passenger car. Similarly, countries like India are also focusing on improving its road safety in the country. The government in India is planning to mandate integration of ADAS system in every passenger vehicle to improve traffic condition and lessen road accidents by 2022. Thus, ADAS system is likely to witness significant demand from India during 2019–2022.

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Advanced Driver Assistance Systems Market Drivers

Advancement of sensors:

Most of the sensors such as radar, image, ultrasonic, and LiDAR employed in the ADAS systems perform multitude of tasks, consuming a lot of energy. However, each sensor has its own limitation; to overcome these limits, researchers are combining different types of sensors to produce reliable and efficient output. These multi sensor systems increase the system reliability without compromising on the safety.

Apart from that sensing technology is also witnessing significant R&D to reduce the carbon footprint, energy consumption and withstand hard environmental conditions with additional technical features. DENSO launched a linear LIDAR capable of horizontal beam scanning capability. The company had also introduced a small-scaled and low-cost linear LIDAR which was commercialized in the automotive industry. This system was adopted by DAIHATSU’s collision avoidance assistance system providing better safety for the driver as well the pedestrians.

Advanced Driver Assistance Systems to become mandatory in India:

Minister of Road Transport and Highways of India is planning to make Advanced Driver Assistance Systems a mandatory feature in upcoming cars. The ministry aims to implement the plan on all new vehicles by early 2022. The implementation of the Advanced Driver Assistance Systems which comes as a safety package which includes Electronic Stability Control (ESC) or traction control, ABS, lane assist and adaptive cruise control. All these features combined, any vehicle will have far lesser chances of involving in an accident when compared to a regular car. The initiative in mandating the ADAS systems in new vehicles will increase the manufacturing of sensors and is anticipated to drive the market in future in India.

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Advanced Driver Assistance Systems Market Challenges

High development cost for Advanced Driver Assistance Systems

With the growing amount of electronic system in today’s vehicle the requirement to transfer the data is increasing. In view of this the manufacturers are focusing on developing a variety of new technology systems such as collision prevention, lane-keeping assistance, parking assistance, traffic jam assist, and adaptive cruise control rely on a number of different sensors throughout the vehicle. The development of the sensors with advanced technologies is increasing the cost of the ADAS system which is hampering the growth of the market.

Market Landscape

Advanced Driver Assistance Systems Market is consolidated by the top 5 players accounting for 60% of the market share. In 2018, Hyundai Mobis launched Advanced Adaptive Driving Beam (AADB), which provides safe vision by keeping the high beams turned on all the time synchronizing with the ADAS system. The major companies in the Advanced Driver Assistance Systems Market include Denso Corporation, Omron Corporation, Continental AG, TRW Automotive Holdings Corp, Magna International Inc., Mobileye, Gentex Corporation, Hyundai Mobis, VOXX International Corporation, and others.

Partnerships/Mergers/Acquisitions

Magna International Inc., an automotive supplier is in plans of partnering with Bosch and Delphi. Major focus of this partnership is to develop real-world self-driving vehicles with Advanced Driver Assistance Systems.

R&D Investments/Funding

Innoviz, a startup on LiDAR has received a total of $170m from various investors for self-driving cars. This funding will help the company in enhancing the existing Harman’s Advanced Driver Assistance Systems in autonomous vehicles.

Advanced Driver AThe base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. These provide the key market participants with the necessary business intelligence and help them understand the future of the Advanced Driver Assistance Systems market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the type of engine, vehicle type, sensors installed, and their specific applications in the Adaptive cruise control (ACC), Blind spot monitor, Collision avoidance system (Pre-crash system), Driver drowsiness detection, Hill descent control, Intelligent speed adaptation or intelligent speed advice (ISA) and many others.

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[pranalip]

Automotive TPMS Market Future Market Projections and Strategies 2024-2033 | Global Insight Services

“Global Insight Services company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Automotive TPMS (Tire Pressure Monitoring System) is an electronic system designed to monitor and display the air pressure of a vehicle’s tires. It is a safety feature that helps drivers maintain proper tire pressure, which is crucial for safe and efficient driving.

The TPMS uses sensors to measure the air pressure inside each tire and sends this information to a central control unit. The control unit then displays the tire pressure on the dashboard, usually in the form of a warning light or a digital readout. If the pressure in any tire drops below the recommended level, the system will alert the driver, allowing them to take necessary action.

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Key Trends

Integration with Advanced Driver Assistance Systems (ADAS)

One of the key trends in automotive TPMS technology is its integration with ADAS. ADAS uses advanced sensors and cameras to assist drivers in various ways, such as lane departure warning, adaptive cruise control, and automatic emergency braking. By integrating TPMS with ADAS, the system can provide more accurate and real-time data on tire pressure and temperature, which can improve the overall safety and performance of the vehicle.

Wireless TPMS

Traditional TPMS systems use a direct sensor that is attached to the valve stem of each tire. However, the latest trend in TPMS technology is the use of wireless sensors that do not require physical connections to the tires. These sensors use radio frequency to transmit data to a central receiver, which then displays the information on the dashboard. Wireless TPMS is more convenient and cost-effective, as it eliminates the need for wiring and reduces installation time.

Key Drivers

Government regulations and safety standards: Government regulations mandating the use of TPMS in vehicles have been one of the major drivers of the market. For instance, in the United States, the National Highway Traffic Safety Administration (NHTSA) has made it mandatory for all new passenger cars, light trucks, and buses to be equipped with TPMS since 2007. This regulation was implemented to reduce accidents caused by underinflated tires, which can lead to decreased vehicle handling, increased braking distance, and tire blowouts.

Growing demand for vehicle safety: With the increasing number of road accidents and fatalities, there is a growing demand for vehicle safety features. TPMS is considered a crucial safety feature as it ensures that tires are properly inflated, reducing the risk of accidents caused by tire failures. This has led to the adoption of TPMS by automakers and consumers, driving the growth of the market.

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Research Objectives

Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region

Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling

Identify factors influencing market growth and challenges, opportunities, drivers and restraints

Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates

Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities

Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market

To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.

Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives

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Market Segmentation

The Automotive TPMS market can be segmented by type, sales channel, vehicle type, propulsion and region. By type, the market can be divided into direct tire pressure monitoring system, indirect tire pressure monitoring system. By sales channel, the market can be divided into OEM and aftermarket. By vehicle type, the market can be divided into passenger vehicles, light commercial vehicles and heavy commercial vehicles. By propulsion, the market can be divided into ICE, electric and hybrid and alternate fuel vehicle. By region, the market is divided into North America, Europe, Asia-Pacific, and the Rest of the World.

Key Players

The Automotive TPMS Market includes players such as ZF Friedrichshafen AG (DEU), ATEQ (FRA), Continental AG (DEU), Bartec USA LLC (USA), Sensata Technologies, Inc. (USA), Huf Hülsbeck & Fürst GmbH & Co. KG (DEU), AUTOMOTIVE TECHNOLOGY CO., LTD. (JPN), Rivigo Services (IND), Denso Corporation (JPN), DUNLOP TECH GmbH (DEU) among others.

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Research Scope

Scope – Highlights, Trends, Insights. Attractiveness, Forecast

Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others

Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain

Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments

Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis

Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis.

With Global Insight Services, you receive:

10-year forecast to help you make strategic decisions

In-depth segmentation which can be customized as per your requirements

Free consultation with lead analyst of the report

Infographic excel data pack, easy to analyze big data

Robust and transparent research methodology

Unmatched data quality and after sales service

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[robertemma27-blog]

The Evolution of 3D Machine Vision Market in Industrial Applications

The 3D machine vision market was valued at USD 1.5 billion in 2020 and is projected to reach USD 2.4 billion by 2025; it is expected to grow at a CAGR of 9.4% from 2020 to 2025.

The rising awareness of consumers about product quality has led to an increased demand for quality inspection and automation of end products. A growing number of companies are focusing on automation systems to reduce their production costs post-COVID-19 But due to the lockdown across countries, companies are facing severe cash flow issues and are deferring new projects related to the implementation of 3D machine vision in their factories.  The ongoing COVID-19 pandemic has caused disruptions in economies and supply chains, thereby causing companies operating in different industries to adopt a global supply chain model. A number of manufacturing companies have halted their production, which has collaterally damaged the supply chain and negatively impacted the 3D machine vision market.

APAC held the largest market share in the 3D machine vision market between 2020 and 2025 The 3D machine vision market in APAC is expected to hold a major market share during the forecast period as countries in APAC such as China, Japan, India, and South Korea have some of the largest manufacturing facilities wherein automation of manufacturing processes has been taken as the highest priority. Also, strong competition among consumer electronics companies in APAC is likely to boost the adoption of machine vision systems in the region. The growing awareness about and demand for high-quality and zero-defect products has fueled the need for 3D machine vision in inspection-related applications in the manufacturing fields.

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The key players in the ecosystem of the 3D machine vision market profiled in this report are OMRON Corporation (Japan), Keyence Corporation (Japan), Cognex Corporation (US), Basler AG (Germany), National Instruments (US), ISRA Vision AG (Germany), TKH group (Netherlands),  Stemmer Imaging (Germany), MVTec Software GmbH (Germany), and Tordivel AS (Norway).

Cameras expected to lead  hardware segment for 3D machine vision market The 3D machine vision market for hardware is expected to hold the largest share during the forecast period. The cameras segment in hardware is projected to grow at the highest CAGR from 2020 to 2025. Cameras in machine vision systems play an important role in capturing 3D images. The high demand for high-quality images and quick image processing is fueling the growth of the cameras segment of the market. The smart camera-based machine vision system is expected to grow at a faster rate during the forecast period as smart camera-based machine vision systems are cost-effective, compact, and flexible since it is easier to implement changes in these systems based on revised regulations and standards. In addition, with the advancements in smart camera technology and IoT, which can be easily be integrated with smart cameras, and the penetration of the smart camera-based machine vision systems is likely to increase in the next few years.

Positioning & Guidance to hold the highest share among Smart Camera-based applications in the 3D machine vision market during the forecast period The smart camera-based systems segment of the 3D machine vision market for positioning & guidance is expected to grow at the highest CAGR as well as will hold the largest share from 2020 to 2025. This is because the smart camera-based 3D machine vision systems are mostly preferred by manufacturers for flexible robotic vision inspections for processor development and the round-the-clock operations. The automotive industry increasingly depends on robotic vision inspection technology.

Food & beverages in industrial vertical to grow at the fastest rate in the 3D machine vision market during the forecast period The 3D machine vision market for food & beverages is projected to grow at the highest CAGR during the forecast period. This growth can be attributed to the use of 3D machine vision in the food industry as several companies use 3D machine vision systems for application-specific solutions in the areas of grading, sorting, portioning, processing, quality checking during processing, and packaging. The market is also expected to witness stable growth during the COVID-19 crisis owing to the increasing global demand for food and beverages. Also, the growing food production capacity and the increasing automation in the food industry in APAC are fueling the growth of the market for food & beverages in APAC.

Postal & Logistics to hold the largest market in the non-industrial vertical for 3D machine vision market during the forecast period The 3D machine vision market for postal and logistics will hold the largest market share in the non-industrial vertical during the forecast period. 3D machine vision-based autonomous navigation (self-localization, obstacle detection, docking) helps in providing the required flexibility and free-navigation capability in crowded environments, for inter-cell transportation logistics services. However the outbreak and spread of COVID-19 have impacted the postal and logistics activities as most of these services remained shut across the world.

[heathcareforallworld]

Exploring the Growth of the Automotive Aerodynamic System Market

The automotive industry has witnessed tremendous advancements over the past few decades, driven by technological innovations and changing consumer preferences. Among the various systems integrated into modern vehicles, automotive aerodynamic systems have gained significant importance. These systems not only enhance the aesthetic appeal of vehicles but also play a crucial role in improving fuel efficiency, reducing emissions, and enhancing overall vehicle performance. This article delves into the automotive aerodynamic system market, exploring its size, share, industry trends, and forecast.

Understanding Automotive Aerodynamic Systems

Automotive aerodynamic systems are designed to reduce the drag force acting on a vehicle as it moves through the air. By optimizing the vehicle's shape and incorporating various aerodynamic components, manufacturers aim to achieve better fuel efficiency and improved handling. Common aerodynamic components include spoilers, diffusers, air dams, and vortex generators. These components work together to manage airflow around the vehicle, minimizing resistance and enhancing stability.

Market Size and Share

The global automotive aerodynamic system market has experienced steady growth in recent years. Automotive aerodynamic system market Size was estimated at 16.22 (USD Billion) in 2023. The automotive aerodynamic system market Industry is expected to grow from 17.08(USD Billion) in 2024 to 25.8 (USD Billion) by 2032. The automotive aerodynamic system market CAGR (growth rate) is expected to be around 5.29% during the forecast period (2024 - 2032). The increasing demand for fuel-efficient vehicles, stringent emission regulations, and the growing adoption of electric vehicles (EVs) are key factors driving this market growth.

Geographically, the market is segmented into North America, Europe, Asia-Pacific, and the rest of the world. Europe and North America are significant markets due to the presence of major automotive manufacturers and stringent regulatory frameworks. The Asia-Pacific region, particularly China and India, is expected to witness substantial growth due to rising vehicle production and increasing consumer awareness about vehicle performance and fuel efficiency.

Industry Trends

Several key trends are shaping the automotive aerodynamic system market:

Electrification of Vehicles: The shift towards electric vehicles (EVs) is a significant trend. EVs have different aerodynamic requirements compared to traditional internal combustion engine (ICE) vehicles. Manufacturers are focusing on optimizing the aerodynamics of EVs to extend their range and enhance performance.

Lightweight Materials: The use of lightweight materials such as carbon fiber and advanced composites is becoming more prevalent. These materials not only reduce the overall weight of the vehicle but also allow for more intricate aerodynamic designs, further improving efficiency.

Active Aerodynamics: Active aerodynamic systems that can adjust their configuration based on driving conditions are gaining popularity. Components like active grille shutters and retractable spoilers can optimize airflow in real-time, providing better fuel efficiency and stability.

Integration with ADAS: Advanced Driver Assistance Systems (ADAS) are increasingly being integrated with aerodynamic components. For example, sensors and cameras can be seamlessly incorporated into aerodynamic structures, improving both vehicle safety and performance.

3D Printing: The use of 3D printing technology in manufacturing aerodynamic components is on the rise. This allows for rapid prototyping and production of complex shapes, reducing development time and costs.

Forecast and Future Outlook

The future of the automotive aerodynamic system market looks promising, with several factors contributing to its growth. The increasing focus on sustainability and environmental concerns is pushing manufacturers to invest in advanced aerodynamic technologies. Governments worldwide are implementing stricter emission regulations, compelling automakers to enhance the aerodynamic efficiency of their vehicles.

The rise of autonomous vehicles is another significant factor influencing the market. Autonomous vehicles require precise aerodynamic designs to ensure stability and safety. As the adoption of autonomous driving technology increases, so will the demand for advanced aerodynamic systems.

Moreover, the ongoing research and development activities in the field of aerodynamics are expected to yield innovative solutions. The integration of artificial intelligence (AI) and machine learning (ML) in designing and optimizing aerodynamic components is likely to revolutionize the market. AI-driven simulations can predict airflow patterns and suggest design modifications, leading to more efficient and effective aerodynamic solutions.

Challenges

Despite the positive outlook, the automotive aerodynamic system market faces certain challenges. The high cost of advanced materials and technologies can be a barrier for widespread adoption, especially in price-sensitive markets. Additionally, the complexity of integrating aerodynamic systems with existing vehicle architectures requires significant engineering expertise and resources.

Conclusion

The automotive aerodynamic system market is assured of significant growth, driven by advancements in technology, changing consumer preferences, and regulatory pressures. The market's size and share are expected to expand as manufacturers continue to innovate and adopt new aerodynamic solutions. Key industry trends such as vehicle electrification, lightweight materials, active aerodynamics, integration with ADAS, and 3D printing are shaping the future of this market.

As we look ahead, the focus on sustainability and the rise of autonomous vehicles will further propel the demand for advanced aerodynamic systems. Despite challenges, the market's future appears bright, with continuous research and development paving the way for more efficient and effective aerodynamic solutions.

[creativeera]

Smart Mirror Market is Estimated to Witness High Growth Owing to Growing Adoption 

Smart mirrors are advanced mirrors integrated with various technologies such as video cameras, LCD or AMOLED displays that enable additional interactive features. The rising consumer preference towards connected devices, proliferation of IoT technologies, and increasing disposable income have augmented the demand for smart mirrors. Smart mirrors enable various applications such as augmented reality, gesture recognition, facial recognition, virtual assistants, navigation, and smart home automation. Advancements in smart mirror technologies including gesture control, artificial intelligence, and proximity sensors have complemented their utility in automotive and retail sectors.

The Global Smart Mirror Market is estimated to be valued at US$ 1138.87 Mn in 2024 and is expected to exhibit a CAGR of 7.5% over the forecast period 2024 To 2031. Key Takeaways Key Players: Key players operating in the Smart Mirror Market are ad notam AG, Evervue, Gentex Corporation, Magna International Inc., Murakami Kaimeido, Panasonic Corporation, Perseus Mirrors, Pro Display, Samsung Electronics Co., Ltd., and Tech2O. Key Opportunities: Government initiatives for smart cities, growing adoption of smart mirrors in automotive and retail applications, and technological advancements in mirror technologies such as augmented reality and facial recognition are expected to create significant growth opportunities for players in the smart mirror market. Global Expansion: Leading players are expanding their global footprint by investing in developed Smart Mirror Market Growth  including North America and Europe and targeting developing countries in Asia Pacific to tap the high growth potential. For instance, in July 2022, Magna announced a $25 million investment to establish a smart product engineering centre in Israel to accelerate its smart product roadmap. Market Drivers The proliferation of IoT devices along with advancements in connectivity technologies such as 5G and Wi-Fi are enabling seamless integration of smart features in mirrors. Additionally, evolving consumer lifestyles, growing adoption of luxury and premium products, and rising consumer spending on smart home automation systems are fueling the demand for smart mirrors globally. Smart mirrors find wide adoption in automotive sector for driver assistance, passenger entertainment, and vehicle surveillance.

PEST Analysis Political: The government policies to promote the use of smart technologies in automotive and various other sectors are boosting the adoption of smart mirrors. Subsidies and tax rebates on products using advanced technologies are fueling market growth. Economic: Rising disposable incomes and growing living standards are enabling consumers to spend more on luxury features like smart mirrors. Their rising application across automotive, retail and other industries due to ability to provide interactive experiences is stimulating business opportunities. Social: Younger demographics are more receptive to new technologies due to changing lifestyles. Increasing digitization and preference for connected devices are driving the installation of smart mirrors in both commercial and residential sectors. Technological: Advancements in areas such as artificial intelligence, display solutions and connectivity options are expanding the functionalities of smart mirrors. Their integration with personal digital assistants and rising introduction of autonomous driving functionalities are further propelling the technological evolution. Geographical regions with high market concentration in terms of value include North America and Europe due to widespread deployment across automotive and retail sectors in major economies like the US, Germany, UK and France. The Asia Pacific region is projected to witness the fastest growth during the forecast period. This can be attributed to rising electric vehicle sales, growing consumer electronics industry and surging internet penetration in countries such as China and India supported by initiatives like Digital India.

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[industrynewsupdates]

Lithium-Ion Battery Market Growth Opportunities and Outlook 2024 – 2030

The global lithium-ion battery market size was estimated at USD 182.5 billion in 2030 and is projected to register a compound annual growth rate (CAGR) of 20.3% from 2024 to 2030. The market is expected to witness significant growth over the forecast period on account of the increasing consumption of rechargeable batteries in consumer electronics and a rise in the adoption of electric vehicles. The rising sales of electric vehicles, along with the expanding renewable energy sector, are expected to drive the market. The emergence of integrated charging stations, green power-generation capability, eMobility providers, battery manufacturers, and energy suppliers is anticipated to stimulate market growth in the coming years.

Increasing sales of electric vehicles in the U.S. owing to supportive federal policies, coupled with the presence of market players in the country, are expected to drive the demand for lithium-ion batteries in the U.S. over the forecast period. Favorable government policies for infrastructural developments at the domestic level through the National Infrastructural Plan (NIP) of the U.S. are expected to promote the growth of the market in the U.S. over the forecast period. Development of the automotive industry in Indonesia, Vietnam, Mexico, Thailand, and India is expected to drive the industry. The growing inclination toward pollution-free HEVs and EVs, along with technological developments, is expected to drive the lithium-ion battery demand over the forecast period. China is expected to witness high gains in light of energy storage technologies and favorable government support to promote investments in the manufacturing sector.

Gather more insights about the market drivers, restrains and growth of the Lithium-Ion Battery Market

Detailed Segmentation:

Application Insights

Based on applications, the market has been segmented into automotive, consumer electronics, industrial, medical devices, and energy storage systems. The consumer electronics segment led the market in 2023 and accounted for the largest revenue share of more than 31.0%. Portable batteries are incorporated in portable devices and consumer electronic products. Applications of portable batteries range from mobile phones, laptops, computers, tablets, torches or flashlights, LED lighting, vacuum cleaners, digital cameras, wristwatches, calculators, hearing aids, and other wearable devices. The electric & hybrid EV market is projected to be the fastest-growing application segment over the forecast period.

Regional Insights

Asia Pacific held the largest market share of over 47.0% in 2023. The market in Europe is expected to witness steady growth over the forecast period owing to the increasing use of li-ion batteries in various sectors including medical, aerospace & defense, automotive, energy storage, and data communication & telecom. The market in Germany is expected to witness steady growth over the forecast period owing to the increasing use of Li-ion batteries in energy storage systems, EVs, and consumer electronics.

Market Dynamics

The increasing adoption of electric vehicles (EVs) is catalyzing a remarkable surge in the global lithium-ion battery industry. As governments and industries worldwide prioritize the transition toward sustainable and environment-friendly transportation, the demand for EVs has experienced a substantial upswing. Lithium-ion batteries, renowned for their high energy density and efficiency, have emerged as the cornerstone of this automotive revolution. These batteries power electric vehicles, providing them with the necessary range and performance to compete with traditional internal combustion engine vehicles.

Product Insights

Based on products, the industry has been segregated into Lithium Cobalt Oxide (LCO), Lithium Iron Phosphate (LFP), Lithium Nickel Cobalt Aluminum Oxide (NCA), Lithium Manganese Oxide (LMO), Lithium Titanate, and Lithium Nickel Manganese Cobalt (NMC). In terms of revenue, the LCO segment accounted for the largest market share of over 30.0% in 2023. High demand for LCO batteries in mobile phones, tablets, laptops, and cameras, on account of their high energy density and high safety level, is expected to augment segment growth over the forecast period. LFP batteries offer excellent safety and a long-life span to product.

Browse through Grand View Research's Conventional Energy Industry Research Reports.

• The global digital oilfield market size was valued at USD 27.4 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 6.2% from 2024 to 2030.

• The global energy harvesting system market size was valued at USD 452.2 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 10.2% from 2020 to 2028.

Key Companies & Market Share Insights

The industry is extremely competitive with key participants involved in R&D and constant product innovation. Key manufactures include Samsung, BYD, LG Chem, Johnson Controls, Exide, and Saft. Several companies are engaged in new product development to improve their global market share. For instance, BYD and Panasonic hold a strong position on account of its increased manufacturing capacities and large distribution network.

Key Lithium-ion Battery Companies:

• BYD Co., Ltd.

• A123 Systems LLC

• Hitachi, Ltd.

• Johnson Controls

• LG Chem

• Panasonic Corp.

• Saft

• Samsung SDI Co., Ltd.

• Toshiba Corp.

• GS Yuasa International Ltd.

Lithium-ion Battery Market Segmentation

Grand View Research has segmented the global lithium-ion battery market report based on product, application and region

Lithium-ion Battery Product Outlook (Volume, GWh; Revenue, USD Billion, 2018 - 2030)

• Lithium Cobalt Oxide (LCO)

• Lithium Iron Phosphate (LFP)

• Lithium Nickel Cobalt Aluminum Oxide (NCA)

• Lithium Manganese Oxide (LMO)

• Lithium Titanate

• Lithium Nickel Manganese Cobalt (LMC)

Lithium-ion Battery Application Outlook (Volume, GWh; Revenue, USD Billion, 2018 - 2030)

• Automotive

• Consumer Electronics

• Industrial

• Energy Storage Systems

• Medical Devices

Lithium-ion Battery Regional Outlook (Volume, GWh; Revenue, USD Billion, 2018 - 2030)

• North America

o U.S.

o Canada

o Mexico

• Europe

o Russia

o Spain

o France

o U.K.

o Germany

o Italy

• Asia Pacific

o China

o India

o Japan

o South Korea

o Australia

• Central & South America

o Brazil

o Paraguay

o Columbia

• Middle East & Africa

o South Africa

o UAE

o Egypt

o Saudi Arabia

Order a free sample PDF of the Lithium-Ion Battery Market Intelligence Study, published by Grand View Research.

[businessindustry]

Industrial Paint Robots Market Global Opportunities by Regions and Growth Status 2032

The Reports and Insights, a leading market research company, has recently releases report titled “Industrial Paint Robots Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032.” The study provides a detailed analysis of the industry, including the global Industrial Paint Robots Market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights:

How big is the Industrial Paint Robots?

The global industrial paint robots market size reached US$ 2.4 billion in 2023. Looking forward, Reports and Insights expects the market to reach US$ 5.3 billion in 2032, exhibiting a growth rate (CAGR) of 9.1% during 2024-2032.

What are Industrial Paint Robots Market?

Industrial paint robots are automated systems engineered to accurately apply paint and coatings within manufacturing settings. These robots are equipped with programmable arms and paint spraying equipment, enabling precise and consistent painting of diverse surfaces like automotive components, machinery, and equipment. By automating the painting process, industrial paint robots eliminate the need for manual labor, minimize paint wastage, and ensure uniform coating thickness. They incorporate sensors and cameras for precise positioning and quality assurance, ultimately enhancing productivity and the quality of painted finishes. Industrial paint robots are integral in optimizing efficiency, reducing expenses, and upholding high standards of paint application in industrial operations.

Request for a sample copy with detail analysis: https://www.reportsandinsights.com/sample-request/1918

What are the growth prospects and trends in the Industrial Paint Robots Market industry?

The industrial paint robots market growth is driven by various factors. The industrial paint robots’ market is witnessing substantial growth, propelled by the rising adoption of automation in manufacturing and the need for efficient and accurate paint application solutions. These robots, equipped with advanced technologies for programmable spraying and precise coating, serve various sectors such as automotive, aerospace, and electronics. Drivers for market expansion include the focus on enhancing productivity, reducing labor expenses, and ensuring consistent paint quality. Furthermore, advancements in robotics, sensors, and artificial intelligence contribute to market growth by enhancing the capabilities and flexibility of industrial paint robots. With manufacturers increasingly investing in automation to streamline production processes, the industrial paint robots’ market is poised for continuous expansion, offering opportunities for innovation and market diversification. Hence, all these factors contribute to industrial paint robots market growth.

What is included in market segmentation?

The report has segmented the market into the following categories:

By Robot Type:

Articulated Robots

Cartesian Robots

Selective Compliance Assembly Robot Arm (SCARA) Robots

Collaborative Robots

By End-Use Industry:

Automotive

Aerospace

Electronics

Furniture and Woodworking

Metal and Machinery

Others

Market Segmentation By Region:

North America:

United States

Canada

Europe:

Germany

United Kingdom

France

Italy

Spain

Russia

Poland

BENELUX

NORDIC

Rest of Europe

Asia Pacific:

China

Japan

India

South Korea

ASEAN

Australia & New Zealand

Rest of Asia Pacific

Latin America:

Brazil

Mexico

Argentina

Rest of Latin America

Middle East & Africa:

Saudi Arabia

South Africa

United Arab Emirates

Israel

Rest of MEA

Who are the key players operating in the industry?

The report covers the major market players including:

ABB Ltd.

Fanuc Corporation

Yaskawa Electric Corporation

KUKA AG

Kawasaki Heavy Industries Ltd.

Durr AG

Comau S.p.A.

Stäubli International AG

Universal Robots A/S

Nachi-Fujikoshi Corporation

Epson Robotics

Omron Corporation

CMA Robotics S.p.A.

FANUC Corporation

KAWASAKI Robotics GmbH

Discover more: https://www.reportsandinsights.com/report/industrial-paint-robots-market

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

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Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

Contact Us:

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