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South Africa Food Safety Testing Market In-Depth Analysis Of Current Research, Growth, Opportunities And Forecast

Outbreak of listeriosis, a serious foodborne disease, is the key factor to supporting the development of various regulations to shape the modern food control infrastructure, and thus, support the growth of the South Africa food safety testing market. In addition, rise in economically motivated adulteration (EMA), owing to high competition and rise in incidence of food frauds, is a significant factor that is expected to boost the growth of the food safety testing market during the forecast period.

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South Africa Food Safety Testing Market by Contaminant, Food Tested, and Technology: Opportunity Analysis and Industry Forecast, 2018 – 2025,”the South Africa food safety testing market size was valued at $65,727 thousand in 2017, and is estimated to reach $145,995 thousand by 2025, registering a CAGR of 10.4% from 2018 to 2025. In 2017, the polymerase chain reaction (PCR) technology segment accounted for nearly two-fifths share of the total South Africa food safety testing industry.

Access to safe and affordable food is a basic human right. Food carrying potential contaminants can be harmful to health. Consumers expect and deserve protection against risks found in food. This ethical factor generates the need to setup food safety regulation and drives the growth of the South Africa food safety testing market.

Food safety auditors in the South African arena are faced with a number of challenges and one of the areas that lead to the biggest debates is the effective auditing of product testing requirements & compliance in the absence of comprehensive legislation.

Food fraud is committed when food is deliberately altered for financial gains with the intention of deceiving consumers. The food standards agency (FSA) specifies two main types of food frauds namely, sale of food that is unfit and potentially harmful and deliberate mis-description of food. Increased economically motivated adulteration (EMA), owing to high competition and rise in incidence of food frauds globally, is the prime factor that boosts the South Africa food safety testing market growth during the forecast period.

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Food producers have witnessed high competition over the years, owing to the growth in food industry. The intentional adulteration of food for economic gains poses health risks and has affected consumers, businesses, and economy. For instance, use of formalin as a preservative for fish and meat products aids in keeping the product fresh, and thus, increases the shelf life of the product.

Implication of various regulations on food safety, growth in instances of food fraud, and rise in economically motivated adulteration (EMA), owing to high competition among food producers, drive the food safety testing market. However, high cost of food safety testing, complexity in testing techniques, and lack of harmonization of regulations are expected to hamper the food safety testing industry growth.

The Department of Health requires that all foodstuffs be safe for human consumption in terms of the Foodstuffs, Cosmetics and Disinfectant Act, 1972 (FCD Act). This Act addresses the manufacture, labeling, sale and importation of foodstuffs. Matters regarding the hygiene of foodstuffs are addressed by the National Health Act, 2003, and the hygiene requirements at ports and airports including vessels and aircraft are addressed by the International Health Regulations Act, 1974.

The key players profiled in this report include ALS Limited, Bio-Rad Laboratories, Inc., Bureau Veritas, Deltamune, DNV GL AS (DNV), Eurofins Scientific S.E., Intertek Group plc., QIMA Limited, SGS SA (SGS), and TUV SUD.

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Key Findings of the South Africa Food Safety Testing Market:
In terms of value, the PCR-based assay technology in South Africa food safety testing market is expected to grow at a CAGR of 11.0% during the forecast period.
Gauteng region is expected to dominate the South Africa food safety testing market, registering a significant CAGR of 10.9% in terms of value.
Mpumalanga region is projected to show exponential growth throughout the forecast years, growing at a CAGR 12.8%, in terms of value.
Based on food tested, the processed food segment is anticipated to dominate the South Africa food safety testing market, registering a CAGR of 10.5%.
Based on contaminant, the pathogen testing segment accounted for more than two-fifths share of the South Africa food safety testing market in 2017.

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North America Aircraft Lighting Market to Garner 5.1% of CAGR During 2031

According to the report published by Allied Market Research, the global aircraft lighting market generated $1.4 billion in 2019 and is estimated to reach $2.0 billion by 2027, registering a CAGR of 4.7% from 2019 to 2027. The report offers an extensive analysis of the changing market dynamics, major segments, market player positioning, industry roadmap, pricing analysis, and competitive scenario.

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An increase in aircraft demand and a shift from incandescent lights to LED lights drive the growth of the global aircraft lighting market. However, the high cost of LED and delayed delivery of aircraft hinder market growth. On the other hand, the surge in demand for lightweight aircraft components creates new opportunities in the coming years.

Covid-19 Scenario on Aircraft Lighting Market:

The aviation industry is one of the worst-hit sectors during the lockdown. On the other hand, the precautionary measures and government restrictions on travel and tourism have badly impacted the industry with less revenue generation.
However, various countries have started entering the recovery phase including China, India, and others. Furthermore, the governments in these regions are expected to lift certain restrictions, offering an opportunity for the aviation industry to get back to their profit margin.

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Based on the region, North America contributed to the highest share, accounting for more than one-third of the total market share in 2019, and will maintain its dominance throughout the forecast period. In addition, this region is expected to grow at the highest CAGR of 5.1% from 2019 to 2027. The report also analyzes region including Europe, LAMEA, and Asia-Pacific.

Leading market players analyzed in the aircraft lighting market research include Aeroleds, Astronics Corporation, Beadlight Limited, Bruce Aerospace, Cobham PLC, Heads Up Technologies, Honeywell International Inc., Madelec Aero, Safran, and Whelen Aerospace.

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Aircraft Lighting Systems Market: Global aircraft lighting systems market was valued at $1,579 million in 2016, and is projected to reach at $2,204 million by 2023, growing at a CAGR of 5.1% from 2017 to 2023.

Aircraft Cabin Lighting Market: The market was valued at $1,167.50 million in 2018, and is projected to reach $1,740.00 million by 2026, growing at a CAGR of 5.2% from 2019 to 2026.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of “”Market Research Reports”” and “”Business Intelligence Solutions.”” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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Automotive Camera Market Expected to Reach $24,092 Million, Globally, by 2031

According to a recent report published by Allied Market Research, titled, Global Automotive Camera Market by Application, Technology, and Vehicle Type: Global Opportunity Analysis and Industry Forecast, 2018-2025, the global automotive camera market was valued at $11,401.6 million in 2017, and is projected to reach $24,092.1 million by 2025, growing at a CAGR of 9.70% from 2018 to 2025.

Presently, North America dominates the market, followed by Europe. In 2017, U.S. dominated the North America market and Germany led the overall market in Europe. However, in the Asia-Pacific region, China currently dominates the market.

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Rise in demand for passenger vehicles coupled with safety & security concerns among consumers and increase in number of road fatalities drive the growth of the global automotive camera market considerably. In addition, rise in trend of installing advanced driver assistance system (ADAS) and legislations mandating installation of cameras in vehicles are anticipated to provide potential growth opportunities for the market. However, high installation cost of the cameras is one of the major restraints of the market.

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Key Findings of the Automotive Camera Market :

On the basis of application, the adaptive cruise control system segment led the global automotive camera market in the year 2017.
The North America region held the majority of market share in 2017.
By vehicle type, the passenger car segment has been dominating the global automotive camera market in the year 2017. However, the heavy commercial vehicle segment is expected to grow at the highest CAGR during the forecast period (2018-2025).
The LAMEA region is anticipated to exhibit the highest CAGR during the forecast period.

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Instant Beverages Premix Market Share Growing Rapidly with Recent Trends and Outlook 2022 – 2031

The instant coffee segment generated the highest revenue in the global instant beverage premix market. The Asia-Pacific region held the leading position in the global market in 2020, and is expected to maintain its lead during the forecast period.

Instant beverage premixes are formulations for preparing drinks easily, without much effort and time required for preparation. The instant beverage premix market is expected to witness notable growth in the coming years due to changing lifestyle patterns of consumers as they are more inclined toward instant beverages. Moreover, increase in disposable income of consumers, improved distribution channels, and increase in healthcare awareness among consumers also support the growth of the global instant beverage premix market. However, stringent regulations for the approval of instant premixes hamper the instant beverage premix market growth.

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Moreover, instant beverage premix market trends such as increase in obesity concerns and health awareness among youth are expected to fuel the market growth during the forecast period. Some of the major health benefits offered by the instant beverage premixes are enhanced brain functionality, increased metabolism, and healthy hydration.

According to instant beverage premix market analysis, the market is segmented on the basis of product type, function, and distribution channel. By product type, the instant beverage premix market is categorized into instant coffee, instant tea, instant milk, instant health drinks, soups, and others. Among these, instant coffee premix occupied the major share of the market in 2020, and is projected to maintain its dominance during the forecast period. Instant health drinks is anticipated to grow at highest instant beverage premix market share in the future.

By function, the instant beverage premix market is segmented into plain and flavored. The flavored segment is anticipated to grow at the highest rate during the forecast period, owing to the trend for consumption of flavored beverages.

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By distribution channel, it is categorized into supermarkets & hypermarkets, convenience stores, specialty stores, and online sales channel. The online sales channel segment is anticipated to grow at highest CAGR during the forecast period, due to the increase in internet penetration.

On the basis of region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific region accounted for the largest instant beverage premix market share in the global instant beverage premix market in 2020, and is expected to maintain its leading position during the instant beverage premix market forecast. This is attributed to the rise in awareness about nutritional advantage of instant beverage premix and increase in income levels in the region.

The impact of the COVID-19 pandemic on the global instant beverage premix market was moderate, due to the supply chain disruption. All manufacturing and production units halted during the outbreak. On the other hand, the surge in online sales resulted into positive impact on the instant beverage premix market demand. Thus, the market is expected to recover from the pandemic in the upcoming years.

Due to improved distribution channels, people are shifting from traditional retail outlets to online websites, such as Amazon.com Inc., Flipkart Online Services Pvt., Shopclues.com, Alibaba Group Holding Ltd., Bigbasket.com, and many more. In addition, distribution channels have been improving, as people are becoming more technological friendly, which further enhances shopping of beverages from the ease of their home.

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Working population has rapidly increased due to the improved educational facilities in developed countries. On the contrary, educational facilities are improving with a rapid pace in developing countries thereby increasing working population in countries, such as India and China. Owing to the time constraint in the preparation of whole meals, nuclear families and working population opt for ready mixes, which can be prepared with less efforts. The nuclear families and bachelor population is the major consumer of the instant food and beverages industry.

For the health and safety of consumers, various regulatory bodies globally have imposed many stringent standards and guidelines. Some of the major regulatory bodies are the Food and Drug Authority (FDA) and the Food Safety and Standards Authority of India. The food and beverage companies are expected to comply with the standards set by these organizations for the approval and commercialization of their products, which requires abundant time. Thus, this factor also restricts the growth of the market during the forecast period.

The major players analyzed for global instant beverage premix industry are Ito En Ltd., The Republic of Tea Inc., Suntory Beverage & Food Ltd., The Coca-Cola Co., Monster Beverage Co., Keurig Green Mountain Inc., Dunkin Brands Group Inc., Starbucks Corp., PepsiCo Inc., and Ajinomoto General Foods Inc. Strategically, key players are concentrating on product launch rather than acquiring and entering into partnerships and agreements with other small- and medium-sized companies. New entrants also prefer to launch different varieties of products so as to compete with prominent leaders of the market. Several instant beverage premix manufacturing companies are trying to acquire small players in the market to avoid the threat of competition.

Key Findings Of Study

The global instant beverage premix market size was valued at $74,830.0 million in 2020, and is projected to reach $137,005.4 million by 2031, registering a CAGR of 6.1% from 2022 to 2031.
Based on the product type, the instant coffee segment was the highest revenue contributor to the market, with $36,944.7 million in 2020, and is estimated to reach $65,984.3 million by 2031, with a CAGR of 5.9%.
On the basis of function, the plain segment was the highest revenue contributor to the market, with $37,779.3 million in 2020, and is estimated to reach $67,959.3 million by 2031, with a CAGR of 5.9%.
Based on the distribution channel, the specialty stores segment was the highest revenue contributor to the market, with $25,884.9 million in 2020, and is estimated to reach $47,096.0 million by 2031, with a CAGR of 6.1%.
Region wise, North America was the highest revenue contributor, accounting for $24,619.1 million in 2020, and is estimated to reach $43,567.7 million by 2031, with a CAGR of 5.8%.

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We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Compound Semiconductor Market is Projected to Reach $212.9 Billion by 2027, Registering a CAGR of 11.1%.

Surge in demand for epitaxial wafer in LED technology drives the growth of the global compound semiconductor market. Asia-Pacific contributed the highest share in 2019, and will maintain its dominance throughout the forecast period. Major compound semiconductor manufactrurers across the globe have halted their production activities due to disrupted supply of raw materials such as gallium and arsenide due to restrictions on mobility amid lockdown.

According to the report published by Allied Research, the global compound semiconductor market generated $89.94 billion in 2019, and is estimated to reach $212.95 billion by 2027, registering a CAGR of 11.1% from 2020 to 2027. The report offers an extensive analysis of changing dynamics, key winning strategies, business performance, major segments, and competitive scenarios.

Surge in demand for epitaxial wafer in LED technology and growing adoption of compound semiconductors compared to silicon-based technology drive the growth of the global compound semiconductor market. However, high cost associated with compound semiconductor components and materials is anticipated to restrain the market growth. Furthermore, rise in usage in smart technologies is expected to provide new growth opportunities during the forecast period.

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Covid-19 scenario:

Major compound semiconductor manufactrurers across the globe have halted their production activities due to disrupted supply of raw materials such as gallium and arsenide due to restrictions on mobility amid lockdown.
Electronic components such as LED chips, PCBs, ICs, and wafers are mostly imported from China. Due to the shutdown of manufacturing units in China amid the lockdown, the prices of compound semiconductor components have been increased by 2-3% due to shortage of supplies.

The report offers a detailed segmentation of the global compound semiconductor market based on type, deposition technology, product, application, and region.

Based on type, the III-V compound semiconductors segment contributed to the largest share in 2019, accounting for nearly one-fourth of the total share, and is estimated to maintain its dominant position during the forecast period. However, the sapphire segment is estimated to portray the highest CAGR of 13.5% during the forecast period.

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Based on deposition technology, the chemical vapour deposition segment accounted for the largest share in 2019, holding more than one-fourth of the total share, and is expected to maintain the largest share throughout the forecast period. However, the molecular beam epitaxy segment is expected to register the highest CAGR of 12.8% from 2020 to 2027.

Based on region, Asia-Pacific contributed the highest share, accounting for nearly half of the total share in 2019, and will maintain its dominance throughout the forecast period. In addition, it is expected to grow at the highest CAGR of 13.2% from 2020 to 2027. The report also analyzes regions including North America, Europe, and LAMEA.

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Solid State Lighting Market is Projected to Reach $74.25 Billion by 2027, Registering a CAGR of 12.2%.

The capability of reducing energy consumption, high-end technical features, and increasing government-sponsored industry associations drive the growth of the global solid state lighting market. Based on type, the LED segment held largest market share in 2019. On the other hand, by installation type, the new installation segment would manifest fastest growth rate. Moreover, the Asia-Pacific region is anticipated to lead the trail throughout the forecast period.

As per the report published by Allied Market Research, the global solid state lighting industry was pegged at $32.65 billion in 2019, and is projected to garner $74.25 billion by 2027, registering a CAGR of 12.2% from 2020 to 2027. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends.

The capability of reducing energy consumption, high-end technical features, and increasing government-sponsored industry associations drive the growth of the global solid state lighting market. In addition, surge in awareness of profound influence of lighting on human health further fuels the growth. However, lack of controls compatibility restrains the growth to some extent. Nevertheless, emergence of smart lighting and fostering innovations to increase the efficacy of solid state lighting are anticipated to usher multiple opportunities in the near future.

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Covid-19 scenario-

Due to the outbreak of covid-19, the demand for solid state lighting has decreased from various end-using sectors. On the other hand, the disruptions in supply chain and manufacturing have further impacted the market.
Delayed construction projects and decreased investments have substantially impacted the market.
Government bodies have eased off the regulation, thereby allowing the market players to reinitiate the tasks.

The global market is segmented on the basis of type, installation type, application, industry vertical, and region. Based on type, the LED segment held largest market share accounting for more than three-fourths of the market share in 2019 and is expected to dominate the market throughout 2027. On the other hand, the OLED segment is anticipated to manifest the fastest CAGR of 15.6% from 2020 to 2027. The report also involves PLED segment.

Based on installation type, the retrofit segment accounted for nearly two-thirds of the market revenue share in 2019 and is projected to rule the roost by 2027. Conversely, the new installation segment is expected to portray the fastest CAGR of 13.1% during the forecast period.

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Based on region, the market across Asia-Pacific held lion’s share in 2019, accounting for more than two-fifths of the total market revenue. In addition, the same region is also anticipated to register the fastest CAGR of 12.9% in between 2020 to 2027. The report also considers regions including LAMEA, EUROPE, and North America.

The major market players in the report include General Electric Company, Osram Licht AG, Royal Philips Electronics N.V., Energy Focus Inc., Toshiba Corporation, Sharp Corporation, Cree, Inc., Samsung Electronics Co., Ltd., Seoul Semiconductor Co. Ltd., and Nichia Corporation.

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Ethernet Adapter Market is Projected to Reach $16.30 Billion by 2027, Registering a CAGR of 33.50%.

Rise in demand for higher bandwidth connections among different industries, surge in deployment of data centers, and high reliability and signal stability offered by Ethernet connections drive the growth of the global Ethernet adapter market. Moreover, by region, the market across North America held the major share in 2019, and is anticipated to retain its dominance during the forecast period.

According to the report published by Allied Market Research, the global Ethernet adapter market was estimated at $1.77 billion in 2019 and is expected to hit at $16.30 billion by 2027, registering a CAGR of 33.5% from 2020 to 2027. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.

Rise in demand for higher bandwidth connections among different industries, surge in deployment of data centers, and high reliability and signal stability offered by Ethernet connections drive the growth of the global Ethernet adapter market. On the other hand, high installation cost and limited physical availability for devices impede the growth to some extent. However, digitalization of businesses and increase in demand for power over Ethernet (PoE) in industries expected to pave the way for multiple opportunities in the industry.

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Covid-19 scenario-

The COVID-19 outbreak has positively influenced the Ethernet adapters market. For a fact it has gained considerable importance during covid-19.
Ethernet adapter is an essential tool that has accelerated the healthcare and scientific research along with enhancing the accessibility to online learning. This factor has boosted the market growth.

The global Ethernet adapter market is analyzed across type, interface type, port configuration, data rate per port, application, end user, and region.

Based on type, the market is bifurcated into external and internal. The internal segment contributed to more than three-fourths of the total market share in 2019, and is expected to retain its dominance by the end of 2027. Furthermore, the same segment would exhibit the fastest CAGR of 33.8% throughout the forecast period.

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Based on port configuration, the market is classified into single, dual, and quad. The dual segment accounted for more than two-fifths of the total market revenue in 2019, and is projected to dominate by 2027. The same segment would also showcase the fastest CAGR of 34.2% from 2020 to 2027.

Based on region, North America held the major share in 2019, accounting for more than one-third of the total revenue share, and is anticipated to retain its dominance during the forecast period. Simultaneously, the region across Asia-Pacific would manifest the fastest CAGR of 36.1% by 2027. The other two regions covered in the report include Europe and LAMEA.

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The key market players analyzed in the global Ethernet adapter market report include Anker Technology (UK) Ltd., Belkin International, Inc., Broadcom, Intel Corporation, Lenovo, LevelOne, Marvell Technology Group, Nvidia (Mellanox Technologies), Plugable Technologies, and Xilinx.

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Smartwatch Display Panel Market is Projected to Reach $4.06 Billion by 2030, Registering a CAGR of 14.1%.

Allied Market Research recently published a report, titled, “Smartwatch Display Panel Market by Panel Type (Rigid Display and Flexible Display), Display Technology (LED-backlit LCD and OLED), Display Type (Monochrome and Colored), and Application (Personal Assistance, Medical & Health, Fitness, and Personal Safety): Opportunity Analysis and Industry Forecast, 2021–2030″. As per the report, the global smartwatch display panel industry was accounted for $1.21 billion in 2030, and is expected to garner $4.06 billion by 2030, registering at a CAGR of 14.1% from 2021 to 2030.

Drivers, Restraints, And Opportunities

Rise in health awareness among the consumers, advent of large number of players in the smartwatch industry, and increased demand for flexible display technology have boosted the growth of the global smartwatch display panel market. However, high consumption of energy hinders the market growth. On the contrary, surge in pixel density is expected to open new opportunities for the market players in the future.

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Covid-19 Scenario:

The Covid-19 outbreak forced electronics manufacturing hubs to halt or work at a low efficiency to curb the spread of the virus. This negatively affected the supply chain of the semiconductor market by creating shortage of materials, finished goods, and components.
Lack of business continuity negatively affected the revenue and shareholder returns.
However, the market is expected to get back on track due to rapid technological advancements and rise in new launch and partnerships.

The Flexible Display Segment to Manifest The Highest Through 2030

By panel type, the flexible display segment is expected to manifest the highest CAGR of 20.2% during the forecast period, owing to the flexible nature and fewer risk of breakage of display. However, the rigid display segment dominated the market in 2020, accounting for more than four-fifths of the market, due to their simple infrastructure that enables ease in manufacturing.

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The LED-Backlit LCD Segment Dominated The Market

By display technology, the LED-backlit LCD segment held the lion’s share in 2020, contributing to more than three-fifths of the market, as it offers a wider color gamut. However, the OLED segment is anticipated to register the highest CAGR of 15.9% from 2021 to 2030, as it is light in weight and flexible.

North America Held The Lion’s Share

By region, North America dominated the market in 2020, contributing to more than one-third of the market, due to availability of advanced technology and presence of major market players operating in the region. However, Asia-Pacific is expected to portray the highest CAGR of 16.5% during the forecast period, owing to presence of key manufacturers in the region.

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Major Market Players

AU Optronics
BOE Technology Group Co., Ltd.
Everdisplay Optronics (Shanghai) Co., Ltd.
Futaba Corporation
Japan Display
LG Electronics
Samsung Electronics Co., Ltd.
Sharp Electronics
Truly Opto-electronics Ltd.
Visionox

Outdoor LED Display Market is Projected to Reach $14,522.40 Million by 2030

Holographic Display Market is Projected to Reach $11.65 Billion by 2030

Smart Display Market is Projected to Reach at $18.25 Billion by 2028

Mini LED Display Market is Expected to Reach $1.90 Billion by 2027

Interactive Display Market is Projected to Reach $29.19 Billion by 2026

Flat Panel Display Market is Projected to Reach $189.60 Billion by 2026

Display Market is Projected to Reach $206.29 Billion by 2025

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Wireless Display Market size is Projected to Reach $9.71 Billion by 2030, Growing at a CAGR of 11.00%

Rise in demand for wireless display innovations, increase in the use of smart TVs, tablets, smartphones, and computers, and surge in demand for OTT media services propel the global wireless display market. The COVID-19 pandemic has impacted the economy across the globe causing workforce & travel restrictions, supply chain interruptions, and reduced demand across sectors.

According to the report published by Allied Market Research, the global wireless display market generated $3.64 billion in 2020, and is anticipated to reach $9.71 billion by 2030, exhibiting a CAGR of 11.0% from 2021 to 2030. The report offers an in-depth analysis of the market size, emerging and current trends, future estimations, and key players.

Rise in demand for wireless display technologies, increase in the use of smart computing devices, such as smartphones, TVs, tablets, and computers, and surge in demand for OTT media services drive the growth of the global wireless display market. On the other hand, high manufacturing costs of wireless displays are expected to hinder the growth. On the contrary, government initiatives and strategies adopted by market players in the future.

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COVID-19 Scenario:

The COVID-19 pandemic has caused workforce & travel restrictions, disrupted supply chain, interrupted production, and reduced demand in many sectors. Decline in construction projects is anticipated to hinder the wireless display market growth.
Reduction in the production by OEMs and decline in demand for electronics devices has hampered the wireless display market.
As the vaccine campaigns are initiated around the globe, the recovery from the pandemic is expected to get better, especially in regions such as North America and Europe.

The report segments the global wireless display market on the basis of technology protocol, offering, application, and region.

Based on the application, the consumer segment accounted for the largest market share in 2020, contributing to more than two-fifths of the total share, and is expected to maintain the lead throughout the forecast period. On the other hand, the healthcare segment is estimated to witness the fastest CAGR of 14.3% from 2021 to 2030.

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Based on offering, the hardware segment contributed to the highest market share in 2020, contributing to around four-fifths of the total market share, and is anticipated to dominate the market during the forecast period. On the other hand, the software & services segment is expected to manifest the fastest CAGR of 13.8% from 2021-2030.

Based on region, Asia-Pacific, followed by North America and Europe contributed to the highest share in 2020, holding more than one-third of the total share, and is expected to maintain dominance throughout the forecast period. The same region is expected to portray the fastest CAGR of 11.9% from 2021-2030.

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Key players of the global wireless display market analyzed in the research include Intel Corporation, Apple Inc., Roku, Inc., Google LLC, Microsoft Corporation, Marvell Semiconductor Group Ltd., Lattice Semiconductor, MediaTek Inc., NETGEAR, Inc., and Amazon.com, Inc.

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Wearable Electronics Market is Projected to Reach $459.58 Billion by 2030, Growing at a CAGR of 19.96%.

Lower device cost due to the emergence of a large number of manufacturers, rise in awareness among customers for health-related activities, and increase in usage among customers of varied age profiles for patient tracking systems drive the growth of the global wearable electronics market. However, the outbreak of the COVID-19 pandemic led to the global lockdown and temporary closure of aircraft industries across the world, thereby adversely disrupted the supply chain and affected the overall design, development, and production facilities.

According to the report published by Allied Market Research, the global wearable electronics market generated $81.40 billion in 2020, and is projected to reach $459.58 billion by 2030, growing at a CAGR of 19.9% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.

Lower device cost due to the emergence of a large number of manufacturers, rise in awareness among customers for health-related activities, and increase in usage among customers of varied age profiles for patient tracking systems drive the growth of the global wearable electronics market. However, surge in number of customers adopting digital devices and presence of internet mobility restrain the market to some extent. On the other hand, increase in investment on building a connected ecosystem presents new opportunities in the upcoming years.

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COVID-19 Scenario:

The outbreak of the COVID-19 pandemic led to global lockdown and temporary closure of the electronics and semiconductor sectors, thereby affecting the overall growth of the global wearable electronics market.
It further disrupted the whole supply chain, leading to difficulty in supply of raw materials. Lack of skilled labor further affected the market growth.
However, the wearable electronics market is expected to recover soon.

The report offers detailed segmentation of the global wearable electronics market based on product type, application, and region.

Based on product type, the wrist wear segment held the highest market share in 2020, holding more than half of the total market share, and is expected to continue its leadership status during the forecast period. However, the eye wear segment is estimated to register the highest CAGR of 23.13% from 2021 to 2030.

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Based on application, the entertainment segment held the largest market share in 2020, holding more than one-third of the total market share, and is expected to continue its leadership status during the forecast period. However, the industrial segment is projected to register the highest CAGR of 22.03% from 2021 to 2030.

Based on region, Asia-Pacific contributed to the highest share in terms of revenue in 2020, holding more than two-fifths of the total market share, and is estimated to continue its dominant share by 2030. Moreover, the same region is projected to manifest the fastest CAGR of 21.14% during the forecast period. Other regions discussed in the report include North America, Europe, and LAMEA.

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Leading players of the global wearable electronics market analyzed in the research include Adidas AG, Fitbit, Inc., Nike, Inc., Google, Inc., Apple, Inc., Sony Corporation, Samsung Electronics, Garmin Ltd., Sensoria Inc., and LG Electronics.

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