#Wearable Robots Market size

[mi-researchreports]

The Wearable Robots and Exoskeletons Market is expected to reach USD 1.93 billion in 2023 and grow at a CAGR of 32.05% to reach USD 7.76 billion by 2028. Cyberdyne Inc., ReWalk Robotics Inc., Ekso Bionics Holdings Inc., Sarcos Corporation, Honda Motor Co. Ltd are the major companies

[mariacallous]

Milton Orr looked across the rolling hills in northeast Tennessee. “I remember when we had over 1,000 dairy farms in this county. Now we have less than 40,” Orr, an agriculture adviser for Greene County, Tennessee, told me with a tinge of sadness.

That was six years ago. Today, only 14 dairy farms remain in Greene County, and there are only 125 dairy farms in all of Tennessee. Across the country, the dairy industry is seeing the same trend: In 1970, more than 648,000 US dairy farms milked cattle. By 2022, only 24,470 dairy farms were in operation.

While the number of dairy farms has fallen, the average herd size—the number of cows per farm—has been rising. Today, more than 60 percent of all milk production occurs on farms with more than 2,500 cows.

This massive consolidation in dairy farming has an impact on rural communities. It also makes it more difficult for consumers to know where their food comes from and how it’s produced.

As a dairy specialist at the University of Tennessee, I’m constantly asked: Why are dairies going out of business? Well, like our friends’ Facebook relationship status, it’s complicated.

The Problem with Pricing

The biggest complication is how dairy farmers are paid for the products they produce.

In 1937, the Federal Milk Marketing Orders, or FMMO, were established under the Agricultural Marketing Agreement Act. The purpose of these orders was to set a monthly, uniform minimum price for milk based on its end use and to ensure that farmers were paid accurately and in a timely manner.

Farmers were paid based on how the milk they harvested was used, and that’s still how it works today.

Does it become bottled milk? That’s Class 1 price. Yogurt? Class 2 price. Cheddar cheese? Class 3 price. Butter or powdered dry milk? Class 4. Traditionally, Class 1 receives the highest price.

There are 11 FMMOs that divide up the country. The Florida, Southeast, and Appalachian FMMOs focus heavily on Class 1, or bottled, milk. The other FMMOs, such as Upper Midwest and Pacific Northwest, have more manufactured products such as cheese and butter.

For the past several decades, farmers have generally received the minimum price. Improvements in milk quality, milk production, transportation, refrigeration, and processing all led to greater quantities of milk, greater shelf life, and greater access to products across the US. Growing supply reduced competition among processing plants and reduced overall prices.

Along with these improvements in production came increased costs of production, such as cattle feed, farm labor, veterinary care, fuel, and equipment costs.

Researchers at the University of Tennessee in 2022 compared the price received for milk across regions against the primary costs of production: feed and labor. The results show why farms are struggling.

From 2005 to 2020, milk sales income per 100 pounds of milk produced ranged from $11.54 to $29.80, with an average price of $18.57. For that same period, the total costs to produce 100 pounds of milk ranged from $11.27 to $43.88, with an average cost of $25.80.

On average, that meant a single cow that produced 24,000 pounds of milk brought in about $4,457. Yet, it cost $6,192 to produce that milk, meaning a loss for the dairy farmer.

More efficient farms are able to reduce their costs of production by improving cow health, reproductive performance, and feed-to-milk conversion ratios. Larger farms or groups of farmers—cooperatives such as Dairy Farmers of America—may also be able to take advantage of forward contracting on grain and future milk prices. Investments in precision technologies such as robotic milking systems, rotary parlors, and wearable health and reproductive technologies can help reduce labor costs across farms.

Regardless of size, surviving in the dairy industry takes passion, dedication, and careful business management.

Some regions have had greater losses than others, which largely ties back to how farmers are paid, meaning the classes of milk, and the rising costs of production in their area. There are some insurance and hedging programs that can help farmers offset high costs of production or unexpected drops in price. If farmers take advantage of them, data shows they can functions as a safety net, but they don’t fix the underlying problem of costs exceeding income.

Passing the Torch to Future Farmers

Why do some dairy farmers still persist, despite low milk prices and high costs of production?

For many farmers, the answer is because it is a family business and a part of their heritage. Ninety-seven percent of US dairy farms are family owned and operated.

Some have grown large to survive. For many others, transitioning to the next generation is a major hurdle.

The average age of all farmers in the 2022 Census of Agriculture was 58.1. Only 9 percent were considered “young farmers,” age 34 or younger. These trends are also reflected in the dairy world. Yet, only 53 percent of all producers said they were actively engaged in estate or succession planning, meaning they had at least identified a successor.

How to Help Family Dairy Farms Thrive

In theory, buying more dairy would drive up the market value of those products and influence the price producers receive for their milk. Society has actually done that. Dairy consumption has never been higher. But the way people consume dairy has changed.

Americans eat a lot, and I mean a lot, of cheese. We also consume a good amount of ice cream, yogurt, and butter, but not as much milk as we used to.

Does this mean the US should change the way milk is priced? Maybe.

The FMMO is currently undergoing reform, which may help stem the tide of dairy farmers exiting. The reform focuses on being more reflective of modern cows’ ability to produce greater fat and protein amounts; updating the cost support processors receive for cheese, butter, nonfat dry milk, and dried whey; and updating the way Class 1 is valued, among other changes. In theory, these changes would put milk pricing in line with the cost of production across the country.

The US Department of Agriculture is also providing support for four Dairy Business Innovation Initiatives to help dairy farmers find ways to keep their operations going for future generations through grants, research support, and technical assistance.

Another way to boost local dairies is to buy directly from a farmer. Value-added or farmstead dairy operations that make and sell milk and products such as cheese straight to customers have been growing. These operations come with financial risks for the farmer, however. Being responsible for milking, processing, and marketing your milk takes the already big job of milk production and adds two more jobs on top of it. And customers have to be financially able to pay a higher price for the product and be willing to travel to get it.

[priteshwemarketresearch]

Growth of 5G IoT Market by Connectivity & Application | Global Forecasts

The Future of Connectivity: Exploring the 5G IoT Market 2025

The rapid evolution of technology is driving us into a new era of connectivity, and one of the most exciting advancements is the combination of5GInternet of Things (IoT). Together, these two technologies are set to revolutionize industries, transform business operations, and reshape the way we live and interact with the world. As businesses and consumers alike embrace the benefits of 5G and IoT, the market for 5G IoT is expanding at a rapid pace, unlocking new opportunities for growth and innovation.

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What is 5G IoT?

Before diving into the potential impact and 5G IoT Market growth of 5G IoT, it's important to understand what these two technologies are and how they work together.

5G is the fifth generation of mobile networks, offering significantly faster speeds, lower latency, and greater connectivity compared to its predecessors, 4G and 3G. It promises to enable faster download and upload speeds, improved real-time communication, and greater network capacity, which are all crucial for the growing demands of connected devices.

IoT (Internet of Things) refers to the network of physical devices, vehicles, appliances, and other objects that are embedded with sensors, software, and other technologies to connect and exchange data over the internet. From smart homes to industrial automation, IoT is already an integral part of modern life, and its adoption is only expected to increase.

When combined, 5G IoT offers the potential for even greater efficiency and performance. The high-speed, low-latency capabilities of 5G provide the ideal infrastructure for the massive number of connected devices in the IoT ecosystem, enabling faster data transfer and seamless communication between devices.

The Growing 5G IoT Market

The 5G IoT market report is predicted to develop at a compound annual growth rate (CAGR) of 70.6% from 2024 to 2034, when global 5G IoT market forecast size is projected to reach USD 816.85 Billion in 2034, based on an average growth pattern. The global 5G IoT market revenue is estimated to reach a value of USD 6.72 Billion in 2024.

Increased Demand for Connected Devices: As the number of connected devices continues to rise, the need for faster, more reliable networks becomes essential. 5G provides the infrastructure necessary to support the growing IoT ecosystem, enabling the seamless communication of billions of devices, from smart wearables to industrial machinery.

Low Latency and High-Speed Connectivity: One of the biggest advantages of 5G is its ultra-low latency, which reduces delays in data transmission. This is especially important for real-time applications such as autonomous vehicles, remote surgery, and industrial automation. With 5G, IoT devices can transmit data almost instantaneously, unlocking new possibilities for innovation.

Industry 4.0 and Smart Cities: 5G IoT is playing a pivotal role in the evolution of Industry 4.0, which refers to the integration of smart technologies like IoT, AI, and automation into manufacturing processes. The combination of 5G and IoT enables smart factories, predictive maintenance, and real-time data analytics, all of which help businesses improve efficiency and reduce costs. Similarly, smart cities are benefiting from 5G IoT, with applications ranging from smart traffic management to energy-efficient buildings and improved public safety.

Healthcare Advancements: In the healthcare sector, 5G IoT is enabling remote patient monitoring, telemedicine, and robotic surgery. The low latency of 5G is critical in ensuring that these technologies can function seamlessly, providing patients with timely care and enabling healthcare professionals to make real-time decisions.

Agriculture and Environmental Monitoring: IoT devices are increasingly being used in agriculture for precision farming, weather monitoring, and soil analysis. The high-speed, reliable connectivity offered by 5G allows these devices to transmit data in real-time, helping farmers optimize crop yields and manage resources more efficiently. Similarly, environmental monitoring applications that track air quality, water usage, and climate conditions can operate more effectively with 5G-enabled IoT devices.

Key Applications of 5G IoT Market

The potential applications of 5G IoT are vast and varied. Some of the key industries and sectors poised to benefit from this technology include:

Autonomous Vehicles: Self-driving cars rely heavily on real-time data exchange between vehicles, infrastructure, and the cloud. 5G's low latency and high data transfer speeds ensure that autonomous vehicles can respond quickly to changing conditions, making them safer and more efficient.

Smart Manufacturing: In manufacturing, 5G IoT enables the use of connected machines, robots, and sensors to automate production processes, optimize supply chains, and monitor equipment health. This leads to increased productivity, reduced downtime, and cost savings.

Retail: The retail sector is also exploring the potential of 5G IoT, with applications such as smart shelves, connected point-of-sale systems, and personalized shopping experiences powered by real-time data.

Energy Management: IoT-enabled smart grids, powered by 5G connectivity, allow for better monitoring and management of energy consumption. This leads to more efficient use of resources and helps to reduce waste, making energy systems more sustainable.

Challenges and Opportunities in the 5G IoT Market

While the 5G IoT market presents enormous opportunities, there are also several challenges to consider. One of the biggest hurdles is the cost of implementing 5G infrastructure, which requires significant investment in new network equipment and technology. Additionally, there are concerns around data security and privacy, as more devices become interconnected and share sensitive information.

However, these challenges also present opportunities for innovation. Companies that can overcome these hurdles and develop secure, cost-effective solutions will be well-positioned to lead in the 5G IoT space.

Conclusion

The 5G IoT market is set to transform the way we live, work, and interact with the world. From smart cities and autonomous vehicles to industrial automation and healthcare innovations, the combination of 5G and IoT offers unprecedented opportunities for businesses and consumers alike. As the technology continues to evolve, it will unlock new applications, drive economic growth, and enable a more connected, efficient, and sustainable future.

[industrynewsupdates]

Optical Sensors Market: Key Trends and Growth Opportunities

The global optical sensors market size is anticipated to reach USD 54.83 billion by 2030, registering a CAGR of 11.8% from 2024 to 2030, according to a new report by Grand View Research, Inc. Factors such as the rising adoption of automation in various industries and growing demand for consumer electronics products such as smartphones, laptops, & wearable smart devices are driving market growth. Moreover, the increasing demand for optical sensors in consumer electronics, healthcare, automotive, and aerospace & defense industries presents significant growth opportunities for the market.

Robots now perform various duties in electronics, industrial, and automobile manufacturing industries. Industrial robots use many sensors for excellent manipulation and control in industrial automation manufacturing techniques. The sensors enable it to respond to its surroundings flexibly, and cutting-edge sensor technology raises its IQ to new heights. Sensor technology is a critical applied science for industrial robots.

The growing use of industrial robots is expected to drive the optical sensors industry. For instance, India set a new installation record for industrial robots, reaching 4,945 units, marking a 54% surge compared to the prior year (3,215 units in 2020). It places India at the tenth position globally for annual installations, as the International Federation of Robotics (IFR) reported in their World Robotics report.

Gather more insights about the market drivers, restrains and growth of the Optical Sensors Market

Optical Sensors Market Report Highlights

• Based on type, intrinsic sensors dominated the market with a 55.0% share in 2023. A rising trend involves combining intrinsic sensors with emerging technologies such as the Internet of Things (IoT) and Artificial Intelligence (AI). This integration aims to facilitate broader and smarter data analysis across various industries for diverse applications

• Based on sensor type, biomedical sensors are expected to grow at the fastest CAGR over the forecast period. Wearable sensors have been increasingly used in monitoring health indicators like pulse rate, ECG, heart rate, blood pressure, and body temperature. Their application includes personalized medicine and the identification of cancer biomarkers across various diseases

• Based on application, the temperature sensing segment held a significant market share in 2023. Temperature sensors have applications in different sectors, including healthcare, automotive, food, and industrial. The most common applications for body temperature sensors are measuring skin temperature, forehead temperature, or ear temperature

• Asia Pacific dominated the market and accounted for a 40.9% share in 2023. Expansion in automotive sales and technological advancement in consumer electronics in the Asia Pacific region is expected to fuel the market growth. The region has a rising demand for products like smartphones, tablets, PCs, and smartwatches. In the first quarter of 2022, India witnessed a surge of 48% in PC shipments, reaching an exceptional 5.8 million units

Optical Sensors Market Segmentation

Grand View Research has segmented the global optical sensors market based on type, sensor type, application, end-use, and region:

Optical Sensors Type Outlook (Revenue, USD Million, 2018 - 2030)

• Extrinsic Sensor

• Intrinsic Sensor

Optical Sensors, Sensor Type Outlook (Revenue, USD Million, 2018 - 2030)

• Fiber Optic Sensor

• Photoelectric Sensor

• Optical Temperature Sensors

• Biomedical Sensors

• Displacement & Position Sensors

• Point Sensors

• Others 

Optical Sensors Application Outlook (Revenue, USD Million, 2018 - 2030)

• Pressure & Strain Sensing

• Temperature Sensing

• Geological Survey

• Biometric

• Others 

Optical Sensors End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Healthcare

• Consumer Electronics

• Energy & Utility

• Aerospace & Defense

• Automotive & Transportation

• Manufacturing

• Others 

Optical Sensors Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

o U.S.

o Canada

• Europe

o Germany

o UK

o France

o Italy

o Spain

o Netherlands

• Asia Pacific

o China

o Japan

o India

o South Korea

o Australia

• Latin America

o Brazil

o Mexico

o Argentina

• Middle East and Africa (MEA)

o Saudi Arabia

o UAE

o South Africa

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

[skyjohn009]

Driving Innovation: The Rise of the Magnetic Sensor Market

Driving Innovation: The Rise of the Magnetic Sensor Market

The global Magnetic sensor market is experiencing a surge in demand, driven by advancements in technology and increasing integration across various industries. According to a new report by Straits Research, the market size was valued at USD 3.24 Billion in 2024 and is projected to reach USD 5.60 Billion by 2033, exhibiting a healthy Compound Annual Growth Rate (CAGR) of 6.4% during the forecast period (2025-2033).

The Magnetic Sensor Market encompasses a diverse range of technologies used to detect and measure magnetic fields. These sensors are crucial components in various applications across industries, including automotive, consumer electronics, industrial automation, and healthcare. Key drivers of market growth include advancements in sensor technology, the rise of automation and robotics, and the increasing demand for safety and security features in various applications.

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 Magnetic Sensors: A Vital Component Across Industries

Magnetic sensors play a critical role in detecting and measuring magnetic fields. These versatile devices are utilized in a wide range of applications, including:

Automotive: Airbag deployment, anti-lock braking systems (ABS), electronic stability control (ESC), position and speed sensing for motors, and navigation systems.

Consumer Electronics: Smartphones (magnetometers for compass function), tablets, laptops (lid open/close detection), wearables, and gaming controllers.

Industrial: Industrial automation, robotics, process control, security systems, and non-destructive testing.

Other Applications: Aerospace and defense, healthcare (medical devices), and building automation.

Key Drivers Fueling Market Growth

Several significant factors are contributing to the expansion of the magnetic sensor market:

Technological Advancements: The development of new magnetic sensor technologies with enhanced sensitivity, accuracy, and miniaturization is driving their adoption across various applications.

Rise of Automation and Robotics: The increasing automation trend in manufacturing and the growing adoption of robots in various industries are fueling the demand for magnetic sensors for precise positioning and control.

Smart Device Revolution: The proliferation of smart devices with advanced functionalities like navigation, gesture recognition, and security features is propelling the need for magnetic sensors for accurate operation.

Focus on Safety and Security: The rising demand for enhanced safety and security in vehicles and buildings is driving the utilization of magnetic sensors in safety systems and intrusion detection.

Market Segmentation Offers Insights for Strategic Growth

The Straits Research report provides a comprehensive segmentation analysis of the magnetic sensor market, allowing for a deeper understanding of market dynamics:

By Technology:

Hall Effect: This dominant technology offers a cost-effective and reliable solution for various applications.

Anisotropic Magnetoresistance (AMR): AMR sensors offer high sensitivity and are ideal for high-precision applications.

Giant Magnetoresistance (GMR): GMR sensors are known for their high sensitivity and low power consumption, making them suitable for advanced applications.

Tunnel Magnetoresistance (TMR): TMR sensors offer the highest sensitivity among the mentioned technologies but are currently limited by higher costs.

Others: This segment includes emerging technologies like Spin Valve sensors and Magneto-Electric sensors offering unique advantages.

By Range:

1 microgauss: These ultra-low range sensors are used for sensitive measurements in scientific research and medical applications.

1 microgauss–10 gauss: This mid-range segment caters to a wide range of applications, including electronic compasses and consumer electronics.

10 gauss: High-range sensors are employed in industrial applications for current sensing and motor control.

By Application:

Automotive: The largest application segment, driven by the increasing demand for safety and advanced driver-assistance systems (ADAS) features.

Consumer Electronics: Growing at a significant rate due to the integration of magnetic sensors in smartphones, tablets, and wearables.

Industrial: A vital segment due to the need for precise positioning and control in automation processes.

Others: This segment encompasses applications in aerospace and defense, healthcare, and building automation.

By End User:

Consumer Electronics: A prominent end-user segment driven by the rising sales of smartphones and other smart devices.

Automotive: A major end user due to the crucial role of magnetic sensors in vehicle safety and performance.

Industrial: A significant end-user segment adopting magnetic sensors to enhance automation and efficiency.

Aerospace and Defense: Utilizes magnetic sensors for navigation, guidance, and control systems in aircrafts and missiles.

Healthcare: Employs magnetic sensors in medical devices for various diagnostic and therapeutic applications.

Others: This segment includes applications in building automation, security systems, and non-destructive testing.

Competitive Landscape: Leading Players in the Magnetic Sensor Market

The global magnetic sensor market is characterized by a mix of established players and emerging companies. Some of the key players include:

Analog Devices

Amphenol

Honeywell International

NXP Semiconductors N.V

STMicroelectronics

TDK Corporation

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About Straits Research

Straits Research is a leading market research firm that provides actionable insights and accurate analysis of various industries. Our team of experienced researchers and analysts use cutting-edge research techniques to provide comprehensive reports that help businesses make informed decisions.

[stephengrand]

South Korea Smart Healthcare Market Size, Share, Trends, Growth, & Report | 2024-2032

The healthcare industry is undergoing a significant transformation with the advent of smart technologies. South Korea, known for its technological advancements and robust healthcare infrastructure, is at the forefront of this change. The south korea smart healthcare market in South Korea is projected to grow at a Compound Annual Growth Rate (CAGR) of 8.1% from 2024 to 2032. This growth is driven by government initiatives aimed at digitalising the healthcare system and a growing emphasis on research and development.

South Korea’s Smart Healthcare Market

South Korea's healthcare system is widely recognised for its advanced medical technology, high-quality care, and efficient delivery. With the integration of smart technologies such as Artificial Intelligence (AI), the Internet of Things (IoT), and data analytics, the country is poised to revolutionise the healthcare landscape. The government's policies and investments in healthcare innovation are also contributing significantly to the market's growth.

Smart healthcare refers to the use of cutting-edge technologies to enhance healthcare services, making them more efficient, personalised, and accessible. These technologies include remote monitoring systems, telemedicine, health apps, and AI-driven diagnostic tools, which are increasingly being adopted by hospitals, healthcare providers, and consumers alike.

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Factors Driving the Growth of South Korea’s Smart Healthcare Market

Government Initiatives in Digital HealthcareThe South Korean government has been proactive in promoting digitalisation in healthcare. The government has rolled out several initiatives to integrate smart technologies into the healthcare sector, such as the "Digital Healthcare Master Plan," which aims to make South Korea a global leader in digital healthcare innovation. The government is also encouraging private sector involvement and collaboration in the development and deployment of smart healthcare solutions.

Rising Demand for Healthcare ServicesSouth Korea’s rapidly ageing population is contributing to the growing demand for healthcare services. The country has one of the fastest ageing populations in the world, and this demographic shift is creating a significant need for innovative healthcare solutions. Smart healthcare technologies are helping address the needs of elderly patients by offering remote monitoring, telemedicine consultations, and personalised care plans.

Research and DevelopmentSouth Korea is investing heavily in research and development (R&D) in the healthcare sector. Leading universities and research institutions in South Korea are focusing on innovations in AI, big data analytics, and telemedicine. These advancements are not only improving the quality of healthcare but are also driving the growth of the smart healthcare market by offering new and improved solutions for patients and healthcare providers.

Increasing Prevalence of Chronic DiseasesChronic diseases such as diabetes, hypertension, and cardiovascular conditions are on the rise in South Korea. Managing these diseases requires constant monitoring and intervention, making smart healthcare solutions particularly appealing. Wearable devices, smart monitoring systems, and AI-based diagnostic tools are increasingly being used to manage and prevent chronic diseases, contributing to the growth of the market.

Technological AdvancementsThe continuous development of AI, IoT, and other digital technologies is a major driver of the smart healthcare market. AI-powered diagnostic tools, robotic surgery, and smart devices for monitoring vital signs are transforming the healthcare delivery model in South Korea. These technologies are improving patient outcomes, enhancing operational efficiency, and reducing costs.

Key Technologies in South Korea’s Smart Healthcare Market

TelemedicineTelemedicine allows healthcare providers to offer remote consultations and care, reducing the need for in-person visits. This technology has gained significant traction, especially in rural areas where access to healthcare services may be limited. It enables patients to receive consultations and follow-up care from the comfort of their homes, improving accessibility and convenience.

Wearable Health DevicesWearable health devices such as smartwatches, fitness trackers, and health-monitoring sensors are becoming increasingly popular in South Korea. These devices can track a wide range of health parameters, including heart rate, blood pressure, sleep patterns, and physical activity levels. The data collected from these devices can be used to monitor chronic conditions, alert healthcare providers to potential health issues, and promote preventive care.

AI and Machine LearningArtificial Intelligence (AI) is revolutionising healthcare in South Korea. AI algorithms are being used for early diagnosis, personalised treatment plans, and predictive analytics. AI is also playing a crucial role in medical imaging, where machine learning models can identify anomalies in X-rays, MRIs, and CT scans faster and more accurately than human doctors.

Robotic SurgeryRobotic surgery systems, such as the da Vinci Surgical System, are being increasingly adopted in South Korea. These advanced systems offer greater precision, reduce the risk of complications, and shorten recovery times. Robotic surgery allows for minimally invasive procedures that result in fewer scars, less pain, and faster healing.

Big Data AnalyticsBig data analytics is helping healthcare providers in South Korea make more informed decisions. By analysing large volumes of health data, providers can identify trends, predict patient outcomes, and improve overall care. Big data analytics is also being used to optimise hospital management and enhance the efficiency of healthcare delivery.

Challenges Facing the Smart Healthcare Market in South Korea

Privacy and Data Security ConcernsAs the use of digital technologies increases, so does the risk of data breaches and privacy concerns. Patient data is highly sensitive, and ensuring its security is crucial for the success of the smart healthcare market. South Korea’s healthcare sector must invest in robust cybersecurity measures to protect patient information.

Regulatory HurdlesThe regulatory framework for smart healthcare technologies is still evolving. While South Korea is known for its regulatory efficiency, the fast pace of technological advancement means that there is often a gap between the introduction of new technologies and the establishment of regulations governing their use. This can delay the widespread adoption of new innovations.

High Initial CostsImplementing smart healthcare technologies can be costly, especially for small and medium-sized healthcare providers. The high upfront costs of purchasing and integrating new technologies can be a barrier to entry for many organisations, especially in a market that is still developing.

Healthcare Professional TrainingHealthcare professionals need to be trained to effectively use new technologies. The integration of AI, robotics, and telemedicine into everyday healthcare practice requires a significant shift in how healthcare professionals approach their work. Training and upskilling are essential to ensure that these technologies are used effectively and safely.

Key Players in South Korea’s Smart Healthcare Market

Several key players are driving the growth of South Korea's smart healthcare market, ranging from established healthcare providers to technology companies. Here are some of the leading players in this market:

Samsung ElectronicsSamsung Electronics, based in Suwon, South Korea, is a global leader in electronics and smart devices, including healthcare technologies. Samsung has been heavily involved in the development of wearable health devices, such as the Galaxy Watch, which includes health-monitoring features like heart rate tracking and ECG functionality. Samsung’s expertise in IoT and AI positions it as a major player in the smart healthcare market.

LG ElectronicsLG Electronics, also headquartered in South Korea, has been developing healthcare solutions through its wearable devices and health monitoring technologies. LG’s focus on integrating AI with healthcare applications has made it a key player in the growing smart healthcare market. The company is working on innovations that leverage AI to improve patient care, hospital management, and health outcomes.

SK TelecomSK Telecom, a leading telecommunications company in South Korea, is involved in the smart healthcare sector by providing IoT-based solutions for remote patient monitoring, telemedicine, and health data analytics. SK Telecom is focusing on expanding its smart healthcare services and providing hospitals and healthcare providers with advanced digital solutions.

MedtronicMedtronic, a global leader in medical devices, operates in South Korea, offering advanced medical technologies and smart healthcare solutions. The company’s products range from minimally invasive devices to diagnostic and monitoring systems, contributing to the overall growth of the smart healthcare market in South Korea.

Hana HealthcareHana Healthcare, a prominent player in South Korea’s healthcare industry, is known for its innovations in the development of telemedicine and health apps. The company focuses on delivering healthcare services through digital platforms, enabling patients to receive consultations, prescriptions, and health advice remotely.

Kakao HealthcareKakao Healthcare, a subsidiary of the Kakao Corporation, is leveraging its expertise in digital platforms to create healthcare services that are more accessible and efficient. Kakao Healthcare is focused on integrating AI and big data analytics to enhance patient care and health management in South Korea.

FAQs

What is smart healthcare?Smart healthcare refers to the integration of digital technologies such as AI, IoT, and big data into healthcare services. These technologies aim to improve patient care, enhance operational efficiency, and make healthcare more accessible and affordable.

What are the key factors driving the growth of the South Korea smart healthcare market?The key drivers include government initiatives to digitalise healthcare, an ageing population, rising chronic disease prevalence, advancements in technology, and significant investments in research and development.

What are the challenges facing the smart healthcare market in South Korea?The main challenges include privacy and data security concerns, regulatory hurdles, high initial costs, and the need for healthcare professional training to use new technologies effectively.

Which companies are leading the smart healthcare market in South Korea?Key players include Samsung Electronics, LG Electronics, SK Telecom, Medtronic, Hana Healthcare, and Kakao Healthcare, all of which are contributing significantly to the development of smart healthcare technologies in South Korea.

What technologies are driving smart healthcare in South Korea?The main technologies include telemedicine, wearable health devices, AI and machine learning, robotic surgery, and big data analytics.

[chetanagblog]

The Global Wearable Robots Market size was valued at US $ 1142 Million in 2023 and is forecasted to grow at a CAGR of 41.6 % from 2024 to 2030, reaching nearly US $ 13034.98 Million.

[marketingreportz]

Sensors in Healthcare Applications Market - Forecast(2024 - 2030)

Sensors Market in Healthcare Applications Overview:

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This is one of the segments in the healthcare sector which is creating opportunities in the sensors market in healthcare applications for the vendors; and according to the findings by IndustryARC’s market analyst, the global market size was $18 billion to $20 billion in 2018. Furthermore, the analyst estimates the medical imaging application segment of the sensors market in the healthcare sector to grow with a global CAGR of 8% to 10% during the forecast period of 2024 to 2030.

The technology of motion sensors in APAC is on the perpetual rise. This is coupled with respiratory diseases that are attributed to the air pollution which is the major concern in the developing countries of APAC, and it is quite evident when the urban air population was held responsible for the death of 500,000 individuals by the World Health Organization (WHO)[2]. This is having a consequent effect on the sales of medical sensors APAC, and according to the market analyst, the region held the maximum regional market share of around 30% in 2018.

Sensors Market in Healthcare Applications Outlook:

Sensors are generally used in the healthcare sector for remote patient monitoring through health rate monitor. They are used in different ways that range from medical imaging, rehabilitation robotics and through wearable devices that monitor the health of the patient remotely. The global medical imaging equipment revenues are poised to reach $24 billion in 2020, according to WHO[3]. Now, these imaging equipment make use of sensors which is leading to subsequent stir in the sensors market in healthcare applications. According to the market analyst of IndustryARC, the application of sensors in medical imaging will observe a supercharging CAGR of more than 15% through to 2025.

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Sensors Market in Healthcare Applications Growth Drivers:

The Evolution of Medical Diagnosis –

There is a myriad of rare or newly found diseases in the contemporary world which do not have a specific diagnostic process. However, there is a constant R&D by medical institutes across the globe to create a diagnostic process and formulate new medicines for these diseases. This is coupled with the technological advancements such as sensors which are leveraged by health care professionals to evaluate the disease and formulate vaccines that can cure them which is driving the demand growth in sensors market in healthcare applications.

The Nascent Virtual Healthcare Systems –

Nowadays, hospitals have a patient portal which collates the data pertaining to patient history that include every stage from diagnosis to the last visit. These portals are utilized for data analysis and to enhance disease management. Each patient has a unique account which can be accessed by hospital management or the patient which creates the need for an IoT sensor which can connect all the information about a patient and make a database on the portal. This is a rampant practice in hospitals which is further flourishing the sensors market in healthcare applications.

Sensors in Medical Equipment –

Pressure sensors are an integral part of anesthesia delivery machines, oxygen concentrators, ventilators, and other healthcare equipment that are used for kidney dialysis, blood pressure monitoring, and hospital bed surgical fluid management systems. “The diverse application of sensors in medical equipment coupled with the fact that healthcare equipment market demand is observing a steady growth owing to the increasing incidences of chronic diseases is creating a sustainable demand of sensors which will observe an increment in the future,” remarks the market analyst in the market research report.

Sensors Market in Healthcare Applications Challenges:

Sensors Market in Healthcare Applications Key Players Perspective:

The key players striving to capitalize on the demand influx in the sensors market in healthcare applications are Smiths Group, Honeywell, GE, STMicroelectronics, MSI, Analog, TI, NXP, First Sensor, Medtronic, TE Connectivity, Murata, and Sensiron.

Sensors Market in Healthcare Applications Trends:

Latest Development — In May 2018, LifePlus Inc. announced about the development of the world’s first non-invasive continuous blood glucose monitoring multi-sensor wearable device.

Cardiac monitors, wearable imaging, and diagnostic wearable are three trends that are going to influence the sensors market in healthcare applications in the future.

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Sensors Market in Healthcare Applications Research Scope:

The base year of the study is 2023, with forecast done up to 2030. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the sensors market in healthcare applications. 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 types of sensors market in healthcare applications, and their specific applications in patient monitoring, diagnostics, therapeutics, imaging, and others.

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Sensors Market in Healthcare Applications Report: Industry Coverage

The report analyses the product demands by the type of product — temperature, pressure, chemical, bio, level, flow, position, and others.

The sensors market in healthcare applications report also analyzes the major geographic regions as well as the major countries in these regions. The regions and countries covered in the study include:

North America: The U.S., Canada, Mexico

South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica

Europe: The U.K., Germany, Italy, France, the Netherlands, Belgium, Spain, Denmark

APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong

Middle East and Africa: Israel, South Africa, Saudi Arabia

Key Questions Addressed in the Sensors Market in Healthcare Applications Market Report

Is the market demand for Sensors Market in Healthcare Applications growing? How long will it continue to grow and at what rate?

Which type of home security system presents the major growth opportunities?

Is there a possibility for change in the market structure over time?

Are additional developments needed for the existing product or services offerings or do the existing products meet the customer demands?

Do the key vendors look for partnerships to expand their businesses with respect to geography or product?

What are the short-term, long-term, and medium-term growth drivers for the market?

What are the short-term, medium-term, and long-term challenges for the market?

What are the short-term, medium-term, and long-term opportunities for the market

Who are the top players/companies of the market?

What are the recent innovations in the market?

How many patents have been filed by the leading players?

What are the types of patents filed by the leading players?

What is our Vision 2030 for Sensors Market in Healthcare Applications market?

A Few Focus Points Of This Research Are Given Below:

Give a deep-dive analysis of the key operational strategies with focus on the corporate structure, R&D strategies, localization strategies, production capabilities, and sales performance of various companies

Provide an overview of the product portfolio, including product planning, development, and positioning

Discuss the role of technology companies in partnerships

Explore the regional sales activities

Analyze the market size and giving the forecast for current and future global Sensors Market in Healthcare Applications market during the forecast 2024–2030

Analyze the competitive factors, competitors’ market shares, product capabilities, and supply chain structures

Key Market Players:

The Top 5 companies in the Sensors in Healthcare Applications Market are:

Honeywell

GE

STMicroelectronics

Medtronic

NXP Semiconductors

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The exoskeleton market is witnessing remarkable growth as technological advancements are making wearable robotics more accessible and effective. Exoskeletons, which are powered, wearable devices designed to assist or augment human movements, are transforming mobility and enhancing human performance across several sectors. From healthcare and rehabilitation to industrial applications, exoskeletons are playing a crucial role in overcoming physical limitations, improving safety, and increasing productivity.

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Digital Workplace Market 2030: Trends, Opportunities, Challenges & Leading Key Players Review

The global digital workplace market size is expected to reach USD 166.27 billion by 2030, registering to grow at a CAGR of 22.8% from 2025 to 2030 according to a new report by Grand View Research, Inc. The growing focus on the development of smart workspaces, increasing adoption of cloud computing by large enterprises, and rising adoption of digital workplace solutions among end users are the major drivers that are likely to create the need to adopt digital workplaces during the forecast period.

Advancements in workplace technologies and Software as a Service (SaaS) have resulted in the implementation of cloud systems, which has fueled the overall market. These technological advancements benefit employees by increasing their agility and flexibility, which improves their overall performance and productivity. As a result, business velocity and agility are increasing, further propelling the market growth.

Technological advancements, such as Artificial Intelligence (AI), Internet of Things (IoT), and automation, are helping organizations in streamlining their business operations and boosting productivity. AI advancements have prompted digital workplace solution providers to supplement their offerings with cloud and AI technologies. The incorporation of such technologies in the workplace allows employees to connect easily and get their work done efficiently and effectively.

Organizations use a variety of devices, such as smartphones, wearables, laptops, and desktops, among others, making EMM solution providers popular to integrate all these devices with operating systems to provide a seamless user interface along with efficiency. As a result of technological advancements, the market for the digital workplace is anticipated to grow significantly.

Gather more insights about the market drivers, restrains and growth of the Global Digital Workplace Market

Digital Workplace Market Report Highlights

The service segment is expected to observe a CAGR of 24.0% during the forecast period. Several large enterprises are implementing cloud computing and deploying new technologies, which are analytical, insights-enabled, and cloud-ready. As a result, enterprises are availing of professional and managed services, including virtualization and managed mobility. Such services will further boost the adoption of digital workplaces during the forecast period

The small & medium enterprise segment is expected to grow at a significant CAGR over the forecast period. The growth can be attributed to the increasing deployment of Bring Your Own Devices (BYOD) and EMM solutions, which reduced the total cost of ownership in the migration and upgrades from existing traditional legacy systems to digital workplaces

The manufacturing segment is is expected to grow at a significant CAGR over the forecast period. The growth can be attributed to the growing deployment of automated systems and robotics, which enable employees to focus on their skill sets on more value-added and evolved tasks.

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

Cryptocurrency Market: The global cryptocurrency market size was estimated at USD 5.70 billion in 2024 and is projected to grow at a CAGR of 13.1% from 2025 to 2030.

Digital Transaction Management Market: The global digital transaction management market size was estimated at USD 15.26 billion in 2024 and is projected to grow at a CAGR of 26.3% from 2025 to 2030.

Digital Workplace Market Segmentation

Grand View Research has segmented the global digital workplace market based on component, organization, end-use, and region:

Digital Workplace Component Outlook (Revenue, USD Billion, 2018 - 2030)

Solutions

Services

Digital Workplace Organization Size Outlook (Revenue, USD Billion, 2018 - 2030)

Large Enterprises

Small and Medium-sized Enterprises (SMEs)

Digital Workplace End-use Outlook (Revenue, USD Billion, 2018 - 2030)

BFSI

IT & Telecommunication

Retail & Consumer Goods

Healthcare & Pharmaceuticals

Manufacturing

Others

Digital Workplace Regional Outlook (Revenue, USD Billion, 2018 - 2030)

North America

US

Canada

Mexico

Europe

UK

Germany

France

Asia Pacific

China

India

Japan

South Korea

Australia

Latin America

Brazil

Middle East & Africa

UAE

Saudi Arabia

South Africa

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

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Digital Workplace Market Evaluation, Competition Tracking & Regional Analysis By 2030

The global digital workplace market size is expected to reach USD 166.27 billion by 2030, registering to grow at a CAGR of 22.8% from 2025 to 2030 according to a new report by Grand View Research, Inc. The growing focus on the development of smart workspaces, increasing adoption of cloud computing by large enterprises, and rising adoption of digital workplace solutions among end users are the major drivers that are likely to create the need to adopt digital workplaces during the forecast period.

Advancements in workplace technologies and Software as a Service (SaaS) have resulted in the implementation of cloud systems, which has fueled the overall market. These technological advancements benefit employees by increasing their agility and flexibility, which improves their overall performance and productivity. As a result, business velocity and agility are increasing, further propelling the market growth.

Technological advancements, such as Artificial Intelligence (AI), Internet of Things (IoT), and automation, are helping organizations in streamlining their business operations and boosting productivity. AI advancements have prompted digital workplace solution providers to supplement their offerings with cloud and AI technologies. The incorporation of such technologies in the workplace allows employees to connect easily and get their work done efficiently and effectively.

Organizations use a variety of devices, such as smartphones, wearables, laptops, and desktops, among others, making EMM solution providers popular to integrate all these devices with operating systems to provide a seamless user interface along with efficiency. As a result of technological advancements, the market for the digital workplace is anticipated to grow significantly.

Gather more insights about the market drivers, restrains and growth of the Global Digital Workplace Market

Digital Workplace Market Report Highlights

The service segment is expected to observe a CAGR of 24.0% during the forecast period. Several large enterprises are implementing cloud computing and deploying new technologies, which are analytical, insights-enabled, and cloud-ready. As a result, enterprises are availing of professional and managed services, including virtualization and managed mobility. Such services will further boost the adoption of digital workplaces during the forecast period

The small & medium enterprise segment is expected to grow at a significant CAGR over the forecast period. The growth can be attributed to the increasing deployment of Bring Your Own Devices (BYOD) and EMM solutions, which reduced the total cost of ownership in the migration and upgrades from existing traditional legacy systems to digital workplaces

The manufacturing segment is is expected to grow at a significant CAGR over the forecast period. The growth can be attributed to the growing deployment of automated systems and robotics, which enable employees to focus on their skill sets on more value-added and evolved tasks.

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

Cryptocurrency Market: The global cryptocurrency market size was estimated at USD 5.70 billion in 2024 and is projected to grow at a CAGR of 13.1% from 2025 to 2030.

Digital Transaction Management Market: The global digital transaction management market size was estimated at USD 15.26 billion in 2024 and is projected to grow at a CAGR of 26.3% from 2025 to 2030.

Digital Workplace Market Segmentation

Grand View Research has segmented the global digital workplace market based on component, organization, end-use, and region:

Digital Workplace Component Outlook (Revenue, USD Billion, 2018 - 2030)

Solutions

Services

Digital Workplace Organization Size Outlook (Revenue, USD Billion, 2018 - 2030)

Large Enterprises

Small and Medium-sized Enterprises (SMEs)

Digital Workplace End-use Outlook (Revenue, USD Billion, 2018 - 2030)

BFSI

IT & Telecommunication

Retail & Consumer Goods

Healthcare & Pharmaceuticals

Manufacturing

Others

Digital Workplace Regional Outlook (Revenue, USD Billion, 2018 - 2030)

North America

US

Canada

Mexico

Europe

UK

Germany

France

Asia Pacific

China

India

Japan

South Korea

Australia

Latin America

Brazil

Middle East & Africa

UAE

Saudi Arabia

South Africa

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

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The Proximity Sensors Market is projected to grow from USD 3,780 million in 2024 to approximately USD 6,612.2 million by 2032, with a CAGR of 7.24% over the forecast period. Proximity sensors, essential components in a wide range of industries, are witnessing significant growth due to their diverse applications in consumer electronics, automotive, healthcare, and industrial automation. These sensors detect the presence of objects without direct contact, using technologies such as infrared, ultrasonic, capacitive, and inductive sensing. The global proximity sensors market is expanding at a rapid pace, driven by advancements in technology, increasing demand for automation, and the proliferation of smart devices.

Browse the full report https://www.credenceresearch.com/report/proximity-sensors-market

Market Overview

The proximity sensors market is valued at billions of dollars and is projected to grow at a healthy compound annual growth rate (CAGR) over the next few years. The rise in industrial automation and the increasing adoption of proximity sensors in automotive safety systems, consumer electronics, and healthcare devices are significant factors contributing to this growth.

Proximity sensors are vital for applications such as object detection, collision avoidance, and motion detection. They are also critical in modern smartphones, enabling features like touchless controls and facial recognition. With industries moving toward smart and connected systems, proximity sensors are playing a pivotal role in enhancing efficiency and user experience.

Key Market Drivers

1. Industrial Automation The fourth industrial revolution (Industry 4.0) has fueled the demand for proximity sensors in automation and robotics. These sensors ensure precision and safety in manufacturing processes, making them indispensable in automated production lines.

2. Automotive Industry Growth Proximity sensors are integral to advanced driver-assistance systems (ADAS), enabling features such as parking assistance, collision avoidance, and blind-spot detection. With the growing focus on vehicle safety and autonomous driving, the automotive sector is a significant contributor to the market’s expansion.

3. Rising Consumer Electronics Market Proximity sensors are extensively used in smartphones, tablets, and wearable devices for functionalities like automatic screen lock, gesture recognition, and augmented reality (AR). The continuous evolution of consumer electronics is driving the demand for innovative and compact sensor solutions.

4. Healthcare Application In healthcare, proximity sensors are used in medical devices for patient monitoring, contactless temperature measurement, and equipment operation. The COVID-19 pandemic has further accelerated the adoption of touchless technologies, providing a boost to this market segment.

Emerging Trends

- Miniaturization and Integration The trend toward smaller, more efficient devices has led to the miniaturization of proximity sensors. This allows for their integration into compact electronics without compromising performance.

- Wireless and IoT Integration Proximity sensors with wireless connectivity are becoming popular, enabling seamless integration with IoT systems. These sensors play a crucial role in smart homes and smart cities, facilitating energy-efficient solutions and real-time monitoring.

- Increased Focus on Sustainability Eco-friendly sensor technologies, such as energy-efficient designs and recyclable materials, are gaining traction as sustainability becomes a priority for industries.

Challenges

While the proximity sensors market is flourishing, it faces certain challenges:

1. High Initial Costs The development and implementation of advanced proximity sensors can be expensive, which may deter small and medium-sized enterprises.

2. Technical Limitations Sensors may face performance issues in extreme environments, such as high temperatures or electromagnetic interference. Continuous innovation is required to overcome these limitations.

3. Intense Competition The market is highly competitive, with numerous players striving to develop cost-effective and technologically advanced solutions.

Future Outlook

The future of the proximity sensors market is promising, with continued advancements in sensor technologies and expanding applications. Innovations like 3D sensing and AI-enabled proximity sensors are expected to redefine the capabilities of these devices. As industries embrace automation and digital transformation, the demand for reliable and efficient proximity sensors will remain strong.

Key Player Analysis:

Omron Corporation

Honeywell International Inc.

Rockwell Automation, Inc.

Schneider Electric SE

Panasonic Corporation

Sick AG

Texas Instruments Inc.

IFM Electronic GmbH

STMicroelectronics N.V.

Broadcom Inc.

Segmentations:

By Technology

Inductive

Capacitive

Photoelectric

Magnetic

By End-user Industry

Aerospace & Defence

Automotive

Industrial

Consumer Electronics

Food & Beverage

Others

By Geography

North America

U.S.

Canada

Mexico

Europe

Germany

France

U.K.

Italy

Spain

Rest of Europe

Asia Pacific

China

Japan

India

South Korea

South-east Asia

Rest of Asia Pacific

Latin America

Brazil

Argentina

Rest of Latin America

Middle East & Africa

GCC Countries

South Africa

Rest of the Middle East and Africa

Browse the full report https://www.credenceresearch.com/report/proximity-sensors-market

Contact:

Credence Research

Please contact us at +91 6232 49 3207

Email: sales@credenceresearch.com

Website: www.credenceresearch.com 

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Permanent Magnets Market 2030 Overview, Global Industry Size, Price, Future Analysis

In 2023, the global permanent magnets market reached a valuation of USD 22.18 billion and is projected to grow at an 8.7% compound annual growth rate (CAGR) from 2024 through 2030. This growth is largely driven by the increasing demand for renewable energy sources like wind and solar power. Permanent magnets play a critical role in enhancing the efficiency of wind turbine generators, a key application area in this sector. Specifically, rare earth magnets such as Neodymium Ferrite Boron (NdFeB) are commonly used in wind turbines due to their high reliability and reduced maintenance needs.

In the United States, the demand for permanent magnets is anticipated to grow at a faster rate than that for ferrite magnets, driven by applications in high-tech sectors like robotics, wearable technology, electric vehicles (EVs), and wind energy. Following the 2008-09 economic downturn, the U.S. automotive industry has seen steady recovery, with a growing emphasis on electric vehicles. Notably, the adoption of plug-in electric vehicles has increased, spurred by innovations from prominent manufacturers including Tesla, Chevy, Nissan, Ford, Audi, and BMW. For example, Tesla began incorporating motors with neodymium magnets in 2018.

Despite this growth, the U.S. faces a supply challenge due to a limited number of domestic manufacturers for permanent motor magnets, leading to substantial imports. In 2023, the U.S. imported around 4 million pounds of automotive parts from China, a majority of which were electric motors. The ongoing trade tensions with China have raised concerns about access to essential rare earth materials. In response, the U.S. government has launched several initiatives, including funding mining projects under the Defense Production Act, aiming to bolster the domestic supply of rare earth materials and reduce dependence on imports.

Gather more insights about the market drivers, restrains and growth of the Permanent Magnets Market

Material Segmentation Insights:

In 2023, ferrite materials dominated the permanent magnet market, capturing a revenue share of approximately 36.0%. Ferrite magnets are predominantly used in motor applications, accounting for over 65% of total ferrite magnet usage. Their application spans automotive motors (19%), appliance motors (14%), HVAC systems (12%), and various industrial and commercial motors (11%) as of 2022. Additional uses of ferrite magnets include loudspeakers, separation equipment, Magnetic Resonance Imaging (MRI), relays & switches, and lifting devices.

The Neodymium Iron Boron (NdFeB) segment is expected to be the fastest-growing segment by volume and revenue in the forecast period. Over the last five years, NdFeB magnets have expanded into various applications, including electric and hybrid vehicle motors, wind power generators, air conditioning compressors and fans, and energy storage systems. Another important material in this market is Alnico, an alloy made from aluminum, nickel, and cobalt. Prior to the discovery of NdFeB in the 1970s, Alnico-based magnets were the strongest available. According to Magnet Applications, Inc., the average energy density (BHmax) of Alnico magnets is 7 MGOe, which is higher than ferrite magnets but significantly lower than that of NdFeB magnets.

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

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Edge AI Software Market Size, Share And Trends Analysis Report

The global edge AI software market size was valued at USD 1.56 billion in 2023 and is expected to grow at a CAGR of 28.8% from 2024 to 2030. Numerous factors, such as the proliferation of Internet of Things (IoT) devices, increasing demand for real-time decision-making, advancements in AI and ML, and 5G network expansion, are primarily contributing to the growth of the market. Furthermore, processing data locally on edge devices helps organizations comply with stringent data privacy regulations and avoid the security risks associated with transmitting sensitive data to centralized cloud servers. This is particularly essential in the healthcare, finance, and government sectors. Thus, there is high growth in the edge artificial intelligence (AI) software market.

Edge AI systems are designed to be energy-efficient, which is essential for various battery-powered devices such as drones, sensors, and wearables. This enables the scalable deployment of Edge AI solutions across various sectors. Moreover, by performing AI processing at the edge, companies can significantly reduce the costs associated with data transmission to the cloud. This also decreases latency, making Edge AI suitable for applications requiring quick response times, such as robotics and smart manufacturing. Furthermore, the rise of autonomous vehicles, drones, and robots requires real-time AI processing at the edge for various tasks such as object recognition, navigation, and decision-making without relying on cloud-based systems.

Gather more insights about the market drivers, restrains and growth of the Edge AI Software Market

Key Edge AI Software Company Insights

Key edge AI software companies include Amazon Web Services, Edge Impulse Inc., and Google. Companies active in the market are focusing aggressively on expanding their customer base and gaining a competitive edge over their rivals. Hence, they pursue various strategic initiatives, including partnerships, mergers & acquisitions, collaborations, and new product/ technology development. For instance, in June 2024, Advantech Co., Ltd., an IoT intelligent systems provider, launched AIR-520 Edge AI server solution for generative AI applications, including Phison's patented aiDAPTIV+ technology. The solution facilitates the fine-tuning of large language models (LLMs) using 1-4 GPU cards and SQ ai100 AI SSDs. It allows businesses to train LLMs in a cost-effective manner while ensuring the security of sensitive data at the edge.

Recent Developments

• In July 2024, NTT DATA Inc., a consulting and information technology service company, launched Edge AI, which delivers a comprehensive managed service platform designed to expedite Information Technology (IT)/Operational Technology (OT) convergence by migrating AI processing to the edge. This platform encompasses everything needed for Edge AI deployment, including systems, tools, and necessary capabilities. It effectively handles data identification, gathering, integration, computing capacity, smooth connectivity, and the management of AI models.

• In June 2024, STMicroelectronics, a semiconductor manufacturer, launched ST Edge AI Suite, integrating tools, software, and expertise to streamline and expedite the development of edge-AI applications. The ST Edge AI Suite stands as a unified set of software tools aimed at simplifying the creation and launch of embedded AI applications. This complete package aids in the entire process, from data collection to the actual implementation of machine learning algorithms on devices, making the development workflow more efficient for various user types.

• In February 2024, Intel Corporation, launched a new Edge Platform, a scalable, open-source software platform that allows companies to easily create, deploy, manage, secure, and operate edge and AI applications with the ease of cloud technology.

Global Edge AI Software Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global edge AI software market report based on the offering, data type, vertical, and region:

Offering Outlook (Revenue, USD Million, 2017 - 2030)

• Solutions

• Services

Data Type Outlook (Revenue, USD Million, 2017 - 2030)

• Audio Data

• Mobile Data

• Sensor Data

• Biometric Data

• Speech Recognition

• Video and Image Recognition

• Others

Vertical Outlook (Revenue, USD Million, 2017 - 2030)

• BFSI

• Government & Public Sector

• Healthcare & Life Sciences

• IT & Telecommunications

• Energy & Utilities

• Manufacturing

• Automotive

• Others

Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America

o U.S.

o Canada

o Mexico

• Europe

o UK

o Germany

o France

• Asia Pacific

o China

o India

o Japan

o Australia

o South Korea

• Latin America

o Brazil

• MEA

o UAE

o South Africa

o KSA

Order a free sample PDF of the Edge AI Software Market Intelligence Study, published by Grand View Research.