Intelligent power module market is anticipated to grow at a CAGR of 10.7% during the forecast period (2024-2031). The growing adoption of intelligent power modules with the increasing end users in various industries is the key factor supporting the growth of the market globally. The increasing application of intelligent power modules in the automotive industry manufacturers using MOSFET meets the automotive industry's stringent quality and reliability standards. The market players are also focusing on introducing intelligent power module solutions that further bolster the market growth.
Human centric lighting market is anticipated to grow at a CAGR of 10.1% during the forecast period (2024-2031). The growing adoption of tunable LED lighting systems for the creation of dynamic lighting environments is the key factor supporting the growth of the market globally. Wellness lighting specifically in the case of circadian lighting, plays an integral role in healthy building design strategies and technologies. The market players are also focusing on introducing human centric lighting solutions that further bolster the market growth.
Electronic products market is anticipated to grow at a CAGR of 12.7% during the forecast period (2023-2030). An increase in the use of smart TVs, smart wearables, smartphones, and tablets, with integrated AI technology drives the growth of the electronic product market. The growing adoption of AI features to turn household appliances and electronic products into smart machines that control and optimize their own functionality is the key factor supporting the growth of the market globally.
Mini LED market is anticipated to grow at a considerable CAGR of 12.4% during the forecast period (2023-2030).Mini LED uses micrometre-sized LED lights that allow it to eliminate the backlight and colour filters used in LCD LED displays for a thinner design. The miniature LEDs is typically used in small electronic appliances such as calculators, cell phones, and remote controllers. The evolving advancements in LED display is the key factor supporting the growth of the market globally.
Liquid cooling connector market is anticipated to grow at a CAGR of 10.2% during the forecast period. Demand for high-performance computing is rising as a result of the use of systems that produce a lot of heat in applications like AI (artificial intelligence), data centres, and scientific simulations. Connectors for liquid cooling assist in effectively regulating the heat produced by these systems.
LED and OLED displays and lighting products market is anticipated to grow at a CAGR of 10.1% during the forecast period. The growing adoption of various strategies including mergers and acquisitions, partnerships, and others by key players are fuelling the LED and OLED displays and lighting products market during the forecast period. For instance, in June 2022, Samsung Display Co. Ltd. acquired Cynora, a German-based display start-up company. Through this acquisition, the company aims to advance technology for foldable smartphone screens.
Car electronics accessories and communication market is anticipated to grow at a considerable CAGR of 5.6% during the forecast period. The trend of customization of vehicles with personalized electronic car accessories, especially among the young generation is likely to be a prospective driver for the growth of the global car electronics accessories and communication market.
Portable generator market is anticipated to grow at a significant CAGR of 6.1% during the forecast period. A power outage is the loss of the electrical power network supply to an end user. There are many causes of power failures in an electricity network including faults at power stations, damage to electric transmission lines, substations, or other parts of the distribution system, a short circuit, cascading failure, fuse, or circuit breaker operation. Power failures are particularly critical at sites where the environment and public safety are at risk.
Portable blenders market is anticipated to grow at a significant CAGR of 8.2% during the forecast period. With the growing demand for portable kitchen apparatuses coupled up with their several benefits over their counterparts has positively impacted the demand for portable blenders. The higher inclination of people towards the usage of small appliances for cooking and health and wellness is due to limited space availability at millennial and rented houses. Portable blenders have numerous benefits such as affordable, lightweight, travel friendly and easy to use.
Induction cooktop market is anticipated to grow at a significant CAGR of 9.1% during the forecast period. Induction cooktop offers some of the features such as faster cooking, safety, control options, and others which give it an edge over other cooking options which is fueling the market growth of the induction cooktops. These features have interested the consumers to purchase the induction cooktop as these are very convenient, and useful.
Earbuds market is anticipated to grow at an exponential CAGR of 21.3% during the forecast period. One of the factors that are driving the market is the high availability of music. Music had been an integral part of most people across the globe with all kinds of languages which has become highly available at different sources which were not that easy a few years back. With the availability of multiple music applications on the smartphone, access to music has become far easier than people now can listen to their favorite songs anytime, anywhere without paying a lot.
The global coffee machine market is anticipated to grow at a CAGR of 4.6% during the forecast period. The rising coffee-drinking population globally with the expansion of coffee-making equipment and solutions is likely to be a prospective driver for the global coffee machine market growth. With the growth in the coffee-drinking population, the demand for specialty beverages including coffee has grown significantly in recent years which in turn is likely to trigger the demand for coffee machines. According to British Coffee Association, coffee is the most popular drink across the globe with around 2 billion cups consumed every day.
The global mobile Sensing fitness market is anticipated to grow at a significant CAGR during the forecast period. Chronic diseases are ongoing, generally incurable illnesses or conditions, such as heart disease, asthma, cancer, and diabetes. The rising prevalence of chronic diseases and disorders are supporting the mobile sensing fitness market over the forecast. According to Centers for Disease Control & Prevention, In 2018, 51.8% (129 million) of civilian, noninstitutionalized adults had been diagnosed with at least 1 of 10 selected chronic conditions. More specifically, 24.6% (61 million) of total adults had 1 chronic condition, and 27.2% (68 million) had more than 2 chronic conditions.
The global smart scales market is anticipated to grow at a significant CAGR of 12.5% during the forecast period. Increasing consumer awareness and concerns about obesity and its associated health risks is a major factor motivating the growth of global smart scales market. Having excess body weight, positions an individual at high risk for conditions such as heart disease, cancer, and diabetes. According to CDC, in 2017 – 2018, the US obesity prevalence was 42.4%. The obesity prevalence was 40.0% among adults aged 20 to 39 years, 44.8% among adults aged 40 to 59 years, and 42.8% among adults aged 60 and older.
The global ductless heating & cooling systems market is anticipated to grow at a significant CAGR of 8.0% during the forecast period. One of the major factors influencing the demand of ductless heating & cooling systems is their multiple advantage over older duct systems. As compared to the duct systems, the technology used in ductless systems is more advance and superior such as temperature controls, Wi-Fi compatibility, location-based controls, and others. Moreover, ductless systems are much energy efficient and cheaper to operate as compared to ducted systems. As per Mitsubishi, ductless heating and cooling systems can save 30-40% off the energy costs of a forced air system.
The global handheld electric massager market is anticipated to grow at a significant CAGR of 5.7% during the forecast period. A handheld massager is an electronic device used to give massages. The handheld massager is of two types, wired and wireless, and used in spas, households, and hospitals. Handheld massagers are used to relax the body muscles and stiffness in a particular area. Handheld electric massagers are handy to carry and portable which saves so much time from the busy lifestyle.
The global substation battery market is anticipated to grow at a significant CAGR of nearly 9.8% during the forecast period. The major factors that drive the growth of the market include the implementation of e-mobility across the globe for public transportation, and promoting e-vehicle along with building battery charging station infrastructure is projected to drive the substation battery market.
The global ice maker market is anticipated to grow at a significant CAGR of around 5.7% during the forecast period. The rapid growth in food and beverages and healthcare industry globally is the major factor likely to drive the market growth.
The global foldable smartphone market is anticipated to grow at a significant CAGR of 20.5% during the forecast period. The rise in the competition among players and availability of multiple reliable foldable smartphones have grown the global foldable smartphone market significantly and is anticipated to grow exponentially in the upcoming years.
The global digital pen market is anticipated to grow at a significant CAGR of 9.8% during the forecast period. The digital pen is a device that captures handwriting and converts handwritten information into digital data.
The global men's grooming appliance market is expected to grow at a significant CAGR during the forecast period. Men's grooming products, such as aftershave lotions, shaving foams, face creams, and so on, are in high demand due to changing customer preferences.
The global secondary thin film battery market is estimated to grow at a significant CAGR during the forecast period. A thin-film battery is a type of solid-state battery.
The global cable television network market is anticipated to grow at a moderate CAGR during the forecast period. The major factor for the growth of the market is the increasing demand for digital content along with the tailored made content for each individual.
The Global Cross-Border E-Commerce Logistics market is anticipated to grow at a CAGR of around 11.5% during the forecast period. Logistics have become the core of many businesses that entails two major functions including transportation and warehousing.
The US personal care appliances market is projected to grow at a modest CAGR of 6.1% during the forecast period (2021-2027). The major aspect that drives the growth of the market includes the increased awareness among the people regarding the availability of a wide range of personal care appliances across the country.
The North America personal care appliances market is projected to grow at a modest CAGR of 6.1% during the forecast period (2021-2027). The major aspect that drives the growth of the market includes the increasing demand for personal care and beauty appliances as the people in the region are more inclined towards well-being and these products.
The India personal care appliances market is projected to grow at a modest CAGR of 5.9% during the forecast period (2021-2027). The major aspect that drives the growth of the market includes the rising consumer spending on personal care appliances especially in metro cities along with the towns and small cities in the country.
The Europe personal care appliances market is projected to grow at a modest CAGR of 6.0% during the forecast period (2021-2027). The major aspect that drives the growth of the market includes increasing health awareness, growing consumer’s consciousness regarding novel product launches, and growing consumer’s willingness toward the purchase of professional personal care appliances.
The Asia-Pacific personal care appliances market is projected to grow at a modest CAGR of 6.2% during the forecast period (2021-2027). The major aspect that drives the growth of the market includes the growing inclination of the consumers towards value-added beauty and personal care products with specific functionalities.
The global personal care appliances market is projected to grow at a modest CAGR of 6.2% during the forecast period (2021-2027). There has been a substantial shift of consumers towards the adoption of branded and quality products for personal care.
North American air coolers market is estimated to grow at a CAGR of 8.0% during the forecast period. Rising demand for small and portable air coolers is one of the major factors driving the market growth. As per the US Department of Energy, room evaporative coolers are becoming highly famous in the western US having milder summer weather. These coolers can decrease the temperature in a single room by 5° to 15°F.
Indian air coolers market is estimated to grow at a CAGR of 12.2% during the forecast period. Increasing launches of innovative air coolers is one of the crucial factors accelerating market growth. For instance, in March 2020, Orient Electric Limited, a division of CK Birla Group, introduced its new range of energy-efficient inverter air coolers driven by Electronically Commutated Motor (ECM) technology that offers up to 50% savings on electricity and energy cost.
European air coolers market is estimated to grow at a CAGR of 8.2% during the forecast period. Emerging adoption of energy-efficient heating and cooling systems is one of the crucial factors encouraging market growth. Heating and cooling in buildings and industry represent half of the energy consumption in the European Union (EU). Several alternatives exist in the market that provides cooling with minimal energy consumption.
China air coolers market is estimated to grow at a CAGR of 11.9% during the forecast period. Rising demand for energy-efficient air coolers is supporting to drive the demand for china air coolers market. The demand for energy-efficient air coolers has emerged significantly owing to the increasing awareness and government initiatives for energy-efficient solutions. China has carried out several efforts to promote green and efficient cooling products.
Asia-Pacific air coolers market is estimated to grow at a CAGR of 11.2% during the forecast period. Increasing residential construction and significant demand for energy-efficient and cost-effective cooling solutions are some pivotal factors encouraging market growth.
The global air coolers market is estimated to grow at a CAGR of 10.5% during the forecast period. Rising demand for energy-efficient air coolers and innovations in air coolers are some pivotal factors encouraging market growth. The demand for energy-efficient air coolers has emerged significantly as it consumes less energy than ACs. It consumes up to 10 times less energy compared to ACs.
The US online entertainment market is anticipated to grow at a CAGR of 14.7% during the forecast period. The US dominates the online entertainment industry owing to better connectivity which facilitates OTT app circulation, in addition to the availability of high-speed connectivity, the presence of established content creators and providers in the country, and the significantly higher costs associated with more traditional modes of media consumption (like PayTV) which has made OTT a more cost-effective solution.
The North American online entertainment market is anticipated to grow at a CAGR of 14.2% during the forecast period. This is majorly attributed to the availability of affordable high bandwidth connections, the presence of a large user base of smartphones, and a high digital literacy rate. Furthermore, early adoptions and favorable responses for technological changes in the entertainment & media industry such as OTT platforms contribute toward the growth of the market.
The Indian online entertainment market is estimated to grow at a CAGR of 19.5% during the forecast period. Media consumption across the country is increasingly happening in digital formats. The number of devices capable of streaming digital media has increased significantly, along with the increasing penetration of the internet, which has offered the customers options to access the desired media content, social activity, or entertainment, anywhere, anytime.
The European online entertainment market is anticipated to at a CAGR of 12.5% during the forecast period. Europe has been holding considerable share in the online entertainment market, and is expected to continue this trend during forecast period, owing to rise in popularity of online gaming and OTT services. Furthermore, the transformational shift from traditional to online gaming has positively impacted the market.
The Asia-Pacific online entertainment market is anticipated to grow at a CAGR of 18.7% during the forecast period. An increase in smartphone user base and lower data tariff drive the growth of the online entertainment market in Asia-Pacific. Smartphones are internet-enabled devices that are majorly used for online entertainment.
The global online entertainment market is projected to grow at a strong CAGR of 15.7% during the forecast period (2020-2026). Increasing smartphone penetration is acting as the primary factor that drives the growth of the global online entertainment market. This is attributed to the fact that smartphones are majorly used for social media accessing, playing online games, watching movies, and listening to music.
Europe kitchen appliance market is anticipated to grow at a CAGR of 5.7% during the forecast period. The growth of the market is attributed to the high disposable income which is driving the demand for luxury products and replacement of traditional products.
Asia-Pacific kitchen appliance market is anticipated to grow at a CAGR of 8.0% during the forecast period. Increasing urbanization, rising disposable income, changing lifestyles will influence the growth of the market.
The US kitchen appliance market is anticipated to grow at a CAGR of 6.0% during the forecast period. A considerable shift toward broader acceptance of new technologically advanced smart kitchen appliances across the country is expected to drive the growth of the market. Additionally, the increasing demand for energy-efficient kitchen appliances will also foster the growth of the market in the near future.
South Korea's kitchen appliance market is anticipated to grow at a CAGR of 6.2% during the forecast period. In the last decades, the country’s GDP has developed significantly, and the per capita GDP of the people has come near to the developed economies. In October 2019, the country also announced to opt-out from the WTO, to take advantage of a developing economy.
The North America kitchen appliance market is anticipated to grow at a CAGR of 5.9% during the forecast period. The growth of the market across the region can be attributed to the high disposable income of the people across the region which aids in the frequent upgradation and adoption of new technology in kitchen appliances.
The global kitchen appliance market is anticipated to grow at a CAGR of 6.3% during the forecast period. Increasing the adoption of smart and user-friendly kitchen appliances among people is one of the major factors for the growth of the market. Moreover, an increasing proportion of working women, premiumization of the product, increasing the average size of the product (in liters or watt) are some other factors for the growth of the market.
The Japan kitchen appliances market is anticipated to grow at a CAGR of 4.8% during the forecast period. High urbanization and high disposable income are some of the major factors for the growth of the market in the country. Moreover, the busy lifestyles of young people living alone or in the nuclear family is also boosting the demand for kitchen appliances.
The India kitchen appliances market is anticipated to grow at a CAGR 12.3% during the forecast period. The growth of the market is mainly driven by the increasing urban population coupled with the increasing disposable income. Additionally, the increase in the tier-2 cities will also influence the demand for advanced kitchen appliances.
The US tankless water heater market is estimated to grow significantly during the forecast period. The high consumption of tankless water heaters in the commercial sector coupled with technological advancement in the industry such as the development of energy efficient water heaters in the country further acts as a catalyst in the tankless water heater market.
The UK tankless water heater market is estimated to grow significantly during the forecast period. The market is mainly driven due to various factors including the rising demand for convenient and energy-efficient water heating solutions in the residential and commercial sectors.
The North American tankless water heater market is estimated to grow significantly at a CAGR of 7.0% during the forecast period. The market is mainly driven due to the growing demand of convenient water heater system in residential sector coupled with developed infrastructure in the region.
The Indian tankless water heater market is estimated to grow significantly during the forecast period. Moreover, increasing the installation of a solar water heating system is propelling the growth of the market in the region.
Germany's tankless water heater market is estimated to grow significantly during the forecast period. Some of the major factors attributing to the tankless water heater market in the country include the growing demand for tankless water heating systems in the commercial and industrial sectors.
European tankless water heater market is estimated to grow significantly at a CAGR of 8.0% during the forecast period. The European tankless water heater market is mainly driven due to the rising demand for energy-efficient water heater in the residential sector and growing energy demand in the commercial sector.
Asia-Pacific tankless water heater market is estimated to grow significantly at a CAGR of 8.9% during the forecast period. The market for the tankless water heater in the region is mainly driven due to the growing demand for compact and energy-efficient water heaters.
The global tankless water heater market is projected to have a considerable CAGR of 8.2% during the forecast period. The market is mainly driven by the growing demand for tankless water heater in various residential and commercial sectors due to various benefits over the storage-tank water heater. The tankless water heater 8%-34% more efficient than storage water heaters. They could save $100 or more annually with an ENERGY STAR qualified tankless water heater and have lower operating costs.
The US home entertainment devices market is anticipated to grow at a CAGR of around 5% during the forecast period. Increasing usage of OTT (over-the-top) media services, rising adoption of connected devices, and changing consumer lifestyles have led to increased consumer spending on entertainment devices in the US.
The North America home entertainment devices market is anticipated to grow at a CAGR of 5.5% during the forecast period. Increasing internet users, rising consumer disposable incomes, the rapid proliferation of smartphones and gadgets, and the expansion of smart entertainment devices product portfolio are some of the key factors in the growth of the home entertainment devices industry in North America.
European home entertainment devices market is anticipated to at a CAGR of 5% during the forecast period. Rising customer demand for high-quality entertainment products attributed to increasing disposable income is anticipated to boost the growth of the home entertainment devices industry in Europe.
The China home entertainment devices market is estimated to grow at a CAGR of more than 6% during the forecast period. China is the most populated country across the globe with an economy of $13.4 trillion, offers enormous potential for the home entertainment devices market.
The Asia-Pacific home entertainment devices market is anticipated to at a CAGR of 6% during the forecast period. Rising internet penetration, low-prices of entertainment devices, increasing the development of connected innovative products, and a rise in disposable income are some of the primary factors stimulating the growth of the home entertainment devices market in the Asia-Pacific.
The home entertainment devices market is projected to grow at a CAGR of around 7% during the forecast period (2020-2026). Home entertainment devices include an extensive range of consumer electronics including gaming consoles, television sets, home theatre, audio equipment, and recorders, among others.
The global Hi-Fi system market is growing significantly, at a CAGR of around 5.4% during the forecast period (2019-2025). The hi-fi (high fidelity) system is referred to as the high-quality reproduction of sound with the use of high-quality amplifiers, receivers, cables, DAC, and other components in the sound system.
The global self-checkout system market is estimated to grow at a CAGR of over 9% during the forecast period. Self-checkout is used extensively in supermarkets, mass merchants/hypermarkets, convenience stores, and home improvement stores and has strong consumer acceptance.
US virtual reality market is growing at a CAGR of around 33.4% during the forecast period. The increasing demand for the display of information and real-time human interaction with digital devices and objects in various sectors such as automotive, gaming & entertainment industries, and pico-projectors is anticipated to be the major factors for the growth of the US virtual reality market in the near future.
Indian virtual reality market is growing at a CAGR of approximately 32.0% during the forecast period. The country is continuously working towards positioning itself as one of the leaders by various technological development and industrialization. There are various large companies in the country which are increasingly focusing on the transformation of technology into the digital world.
UK virtual reality market is growing at a CAGR of around 33.3% during the forecast period. The video gaming sector is the most competitive sector in the U.K., with at present 29 companies involved in the development of virtual reality technology. The interaction of virtual reality technology with the human body is significantly increasing day-by-day.
Germany virtual reality market is growing at a CAGR of around 33.6% during the forecast period. Germany has one of the most technologically advanced telecommunications systems across the globe, owing to intensive capital expenditures infrastructure and development of innovative solutions in every field.
European virtual reality market is growing at a CAGR of around 33.0% during the forecast period. According to CBI Ministry of Foreign Affairs, the global augmented reality and virtual reality market is growing steadily and is expected to reach $175 billion by 2020.
North American virtual reality market is growing at a CAGR of around 33.3% during the forecast period. The US and Canada are the major economies of the North America. The region has well-developed information communication technology (ICT) and employs the adoption of larger number of connected devices. North America is home to the largest companies in terms of revenue, which include Microsoft, Facebook, IBM, Google, and Apple.
Japan virtual reality market is growing at a CAGR of around 33.9% during the forecast period. Japan is one of the countries having well-developed information and communication technology (ICT) infrastructure. Its economic development has always regarded as a model for many technologically fewer progressive countries, the ones which have not yet mastered advanced technology to organizational forms.
China virtual reality market is growing at a CAGR of around 34.2% during the forecast period. The investment on R&D has remarked a substantial growth over the past two decades. According to the Bruegel, the China is considered as the second-largest performer, in relations of R&D spending, and accounts for around 20% of total R&D expenditure across the globe.
Asia-Pacific virtual reality market is growing at a CAGR of around 33.7% during the forecast period. Asia-Pacific is considered as the largest market for mobile games, owing to the wide availability of mobile manufacturers and game developers in the emerging economies of the Asia Pacific, particularly in India and China.
Asia-Pacific
air conditioning market is forecast to grow at a significant growth rate at a
CAGR of 4.4% during the forecast period. Some of the major factors which are
providing a significant market to the region are increasing urbanization,
adverse climate change, and increasing disposable income in the emerging
economies.
Asia-Pacific
split air conditioning market is forecast to grow at a CAGR of around 4.5%
during the forecast period. The major factors for the significant market growth
to the region include rising urbanization, rising average temperature due to
adverse climate change, and increasing disposable income in the emerging
economies.
The
Australia air conditioning market is estimated to grow at a modest growth rate
during the forecast period. Some of the motivating factors of the market
include large desert areas in the country which results in heatwaves, which
generates a significant need for air conditioning in the country.
China
air conditioning market is estimated to grow at a CAGR of 4.7% during the
forecast period. The country holds a dominant position in the production and
export of the AC globally. It produces more than 50% of the global AC every
year.
European
air conditioning market is forecast to grow at a modest growth of CAGR 1%
during the forecast period. The major factors for the growth of the market
include high urbanization, climate change, and high disposable income.
The
global split air conditioning market is forecast to grow at a CAGR of 4% during
the forecast period. Split AC comprises of an indoor and an outdoor unit that
is connected by a refrigerant piping. There are variations of split-type ACs
available in the market.
India
air conditioning market is forecast to grow at one of the highest CAGR of 6.8%
during the forecast period. Hot climatic conditions, increasing urbanization,
expanding the middle-class population, and increasing per capita disposable
income are some of the major factors that are contributing to the market
growth.
India's
Split Air Conditioning market is estimated to augment at a significant growth
rate during the forecast period. Hot climatic conditions, increasing average
temperature of the atmosphere, rising urbanization, expanding the middle-class
population, and increasing per capita disposable income are some of the major
factors that are contributing to the market growth.
Japan
air conditioning market is estimated to grow at a CAGR of 2.7% during the
forecast period. Japanese AC market includes five major growing industries
which are residential, healthcare, commercial, industrial, and transportation.
There is a huge scope in the country for air conditioning products as rapidly
changing technology such as portable AC with energy-saving features.
Middle
East air conditioning market is forecast to grow at a significant growth rate
during the forecast period. Hot climatic conditions, high urbanization, and
high per capita disposable income are some of the major factors that are
contributing to the market growth.
North
American air conditioning market is forecast to grow at a CAGR of 3.1% during
the forecast period. Major factors augmenting the market is high urbanization,
high adoption of AC in the US, high disposable income are among the major
factors driving the market.
North American split air conditioning market is forecast to grow at a modest growth rate at a CAGR of 2% during the forecast period. Major factors augmenting the market is the high rate of urbanization, the high adoption rate of AC, and high disposable income.
UK
air conditioning market is forecast to show a modest growth rate at a CAGR of
1% during the forecast period. A number of regulations enforcement related to
fan refrigerants used in AC for the sake of environmental concern had been
witnessed in the country.
The
US Air Conditioning Market is forecast to show a modest growth rate at a CAGR
of 3% during the forecast period. The major driving factors which contribute to
the growth of the air conditioning market in the US are global warming and high
living standards.
The
US split air conditioning market is estimated to show modest growth at a CAGR
of around 2% during the forecast period. The major driving factors rising the
growth of the market include adverse climate change and high disposable income.
Tankless water heaters are the type of heaters which directly heats the water when the water passes through it. Tankless water heaters are also known as demand-type or instantaneous water heaters. Tankless water heater does not contain a tank for storage and heats the water with the support of heat exchanger coils.
The global smartwatch market is anticipated to grow at a significant CAGR of 19.6% during the forecast period. Increasing internet penetration across the globe, the growing trend of smartphones, and growth in IoT technologies are estimated to be the key motivators of the market.