Monolithic Microwave IC Market to Observe Fastest Growth in APAC The total value of the global monolithic microwave IC market was USD 9,541.3 million in 2022, and it will rise at a growth rate of above 11.4% shortly, reaching USD 22,649.1 million by 2030. This growth can be credited to the distribution of the 5G technology and the successive increment in the utilization of smartphones, the surge in the need for better bandwidths, technological improvements in defense machines, and development in the count of space missions and programs. The augmentation in the per-capita income of individuals, the obtainability of inexpensive smartphones, and the fast growths in telecommunications are some of the major reasons boosting the demand for smartphones. Their utilization has also been growing because of several drives they fulfill for individuals with a steady internet connection, like searching for item reviews, voice searches, online shopping, bill payment, and social media. Many countries, like the U.S., China, India, Japan, and EU members are doing operations in space, fuelled by government and also private investments. The presence of numerous lucrative business opportunities, the reduction in the cost of many space components because of technological improvements, and the innovations being carried out for improved and quicker communication are inspiring private establishments to be a part of space programs. Read More: https://www.psmarketresearch.com/market-analysis/monolithic-microwave-ic-market

North America, the Largest Revenue Producer in Public Safety and Security Market The size of the public safety and security market was at $411 billion in the year 2021, which will reach over $1,115 billion by the year 2030, advancing at a growth rate of around 12% in the years to come. This is largely ascribed to the rising application of innovative technologies in smart cities, increasing crime rates, the increasing cases of disastrous accidents, and the growing count of terrorist activities globally. North America public safety and security market had the largest revenue, of about $160 billion, worldwide in 2021. This is attributed to the existence of numerous vendors and strict government regulations. Additionally, the rise in the usage of smartphones, as well as high internet penetration, and high evolution in the e-commerce industry are other major driving factors. For example, there were approximately 300 million internet users all around the U.S. in the year 2021. Conversely, the APAC public safety and security market will register the highest growth, of around 12%, by the end of this decade. This can be credited to the surging acceptance of advanced surveillance systems in numerous countries of the region. Furthermore, the existence of a large count of mobile internet users also pushes the growth of the market. According to the experts of the industry, China contains approximately 64% of the 1.5 billion total mobile internet connections, thus enhancing the requirement for public safety and security solutions. Read More: https://www.psmarketresearch.com/market-analysis/public-safety-security-market

North American Dominating Compound Semiconductor Market The total value of the compound semiconductor market was USD 38,552 million in 2022, and it will rise at a growth rate of above 6.10% shortly, reaching USD 61,911 million by 2030, according to P&S Intelligence. The development can be mainly credited to the increasing demand for SiC devices in power electronics. Moreover, the growing need for consumer electronics boosts the sale of semiconductors throughout the globe. As per the Semiconductor Industry Association, semiconductor sales stood at USD 152.5 billion in quarter two of 2022, which was a surge of 13.3% from 2021. In 2022, the GaN category held the largest compound semiconductor market share, of above 30%, and the category is projected to remain dominant in the future as well. GaN upholds a low conduction resistance and high breakdown voltage, which enable them for high-speed switching and the reduction of equipment. Furthermore, GaN devices can effortlessly aid high electron mobility and densities due to their small size. In 2022, the telecommunications category held the largest revenue share, at 44%, and it is projected to be in the top spot throughout the projection period. The growing utilization of GaN, GaAs, SiGe, and InP compound semiconductors in phones and other wireless communication channels is driving the growth of the market. Read More: https://www.psmarketresearch.com/market-analysis/compound-semiconductor-market

Customer Data Platform Market is Dominated by North America The customer data platform market will reach USD 48,559 million by 2030, powering at a rate 33.70% in the years to come. Moreover, the requirement for these platforms is powered by the mounting dependence of the BFSI industry on the computer technology for marketing to a specific consumer base. The travel & hospitality sector will grow the fastest in the years to come, for about 34%. This has a lot to do with the increasing need for enhanced customer experience, on the basis of which companies are frequently judged; retaining customers, and comforting repeat dealings. Furthermore, it is essential for businesses to guarantee loyalty of the customers, for which decent travel experiences are compulsory; this can be done through this kind of platforms. The platform category had the larger revenue in 2022, and it will continue to dominate in the future. This will be because of the increasing requirement for immediate and personalized analysis of data. North America customer data platform market was dominant with a share of 46% in 2022, and it will maintain its position in the years to come as well, as stated by P&S Intelligence. This is as a result of the occurrence of pure-play vendors and providers of CDP as a sub-product, recognized IT infra, and high acceptance rate of cutting-edge technologies. It is because of the requirement for analyzing the behavior of customers, the need for customer data platforms will continue to increase. Read More: https://www.psmarketresearch.com/market-analysis/customer-data-platform-market

How Does Rising Workplace Safety Concerns Boost Distributed Fiber Optic Sensor Demand? The distributed fiber optic sensor industry has garnered $1,096 million revenue in 2021, and it is projected to rise at the rate of 8.50% from 2021 to 2030, to generate $2,285 million revenue in 2030. The growing demand for optic sensing, used in numerous industries, such as civil, aerospace, automotive, energy, and rising offshore drilling activities along with growing investments in exploring new reserves for gas and oil fuel distributed fiber optic sensor industry growth. Moreover, the rising usage of distributed sensors in applications, including pipeline monitoring, structural health monitoring, control, and border monitoring helps in controlling the industry expansion. The Rayleigh scattering effect holds a substantial revenue in 2021, and it is projected to retain its dominance in the coming years. It is ascribed to analyzing the quality of a wide range of materials, such as liquids, solids, and materials. The application of high-stakes circumstances such as huge structures’ security, fire detection, and coolant leak detection with the usage of cutting-edge data processing techniques. Read More: https://www.psmarketresearch.com/market-analysis/distributed-fiber-optic-sensor-market

Technological Innovations Enhancing Geospatial Imagery Analytics Solutions Technological innovations in geospatial imagery analytics solutions are widening their application base. The integration of artificial intelligence (AI) and big data in these analytics solutions for an efficient and faster analysis of data has led to the delivery of meaningful insights about the happenings on the earth, in less time. The need for the extraction of meaningful data and classification of its large volumes has led to the widescale adoption of these solutions in the healthcare, defense, retail and e-commerce, disaster management, and banking, financial services, and insurance (BFSI) sectors. Moreover, the soaring demand for geospatial analytics solutions from business organizations to ensure demographic and geospatial support for their investment plans is driving the market growth. Firms are utilizing these solutions to design their business strategies, to stay ahead in the competition. Due to this factor, the revenue of the geospatial imagery analytics market is on path to increasing from $3,196.2 million in 2017 to $14,687.9 million in 2023, demonstrating a 28.7% CAGR during the forecast period (2018–2023). Currently, an increasing number of nano and small satellites are being launched by numerous countries to offer an array of services to the public, including TV channels and weather updates. These satellites are smaller and lighter than the traditional satellites, usually less than 500 kg, and therefore, easier to launch. Organizations such as the National Aeronautics and Space Administration (NASA) and Space Exploration Technologies Corp. are investing heavily in these satellites because they offer frequent, quicker, low-cost, and broader access to space. Read More: https://www.psmarketresearch.com/market-analysis/geospatial-imagery-analytics-market

Why Will Automotive Sector Rule the APAC Compressor Market? The major drivers of the global APAC compressor market are increasing gas pipeline network, surging infrastructure spending, and expanding HVAC and automotive industries. The market is predicted to reach $25.7 billion by 2030. The outbreak of COVID-19 had ruptured the entire circular economy and this market was not an exception. Lockdowns were imposed in several economies leading to the temporary shutdown of numerous corporations in Australia, South Korea, Japan, India, and China. China dominates the entire logistical network of components and raw materials for compressors, including fan units, embedded systems, and rotary blades. Within the type segment, the positive displacement category holds the biggest APAC compressor market share in the market and will continue to show this trend in the coming years as well. This can be ascribed to the inherent benefits of this category in comparison to others. This encompasses better efficiency, a long lifespan, a wide application area, and reduced operational costs. Moreover, the conventional compressor units are being replaced by advanced ones, which in turn, will escalate the deployment of positive displacement compressors. Segmented on the lubrication type, the APAC compressor market can be bifurcated into oil-flooded and oil-free categories. The former bifurcation continues to generate a higher market revenue and will exhibit the same trend in the future as well. This can be primarily attributed to the rising inclination of end users toward this bifurcation. This is on account of the magnificent property of its inherent capability to provide higher pressure over other oil-free compressors. Additionally, there is extensive utilization of the oil-flooded category in healthcare centers, food and beverage facilities, and others. Read More: https://www.psmarketresearch.com/market-analysis/apac-compressor-market

Germany Is Dominating the European Energy Management System Market The global European energy management system market was valued at 11,222 million in 2022, and this number is projected to reach USD 30,257 million by 2030, advancing at a CAGR of 13.20% during 2022–2030, according to P&S Intelligence. The major factors driving the market are strict government rules and guidelines, electricity cost volatility, and the increasing acceptance of EMS in building automation. Furthermore, rapid industrialization, increasing economic development, and snowballing government steps toward electricity consumption are some other reasons boosting market growth. In 2022, the service category held the largest revenue share in the European energy management system market. This can be credited to the rising needs of end users to decrease their operational prices by utilizing numerous services, such as consulting & training, maintenance, monitoring and control, and others. Furthermore, the leaning of building landlords toward full control of an EMS, with increasing awareness and knowledge, and the capability to screen the snowballing demand for power in given buildings, are some of the other reasons contributing to the market growth in this category. Read More: https://www.psmarketresearch.com/market-analysis/europe-energy-management-systems-market

APAC will Grow the Fastest in the Real-World Evidence Solutions Market The real-world evidence solutions market will power at a double-digit rate by the end of this decade, to touch USD 3,974 million by 2030, as stated by P&S Intelligence. This is because of the clinical trial count, the shifting emphasis to value-based healthcare from volume-based, and the increasing research and development activities associated with the expansion of medical devices and drugs. More than a few biopharma, drug, and medical device organizations are profoundly investing in research and development for the formation of novel gadgets and drugs. These corporations are choosing entirely functional or combined outsourcing services, from the initial to the later-stage developmental phase, for encountering the requirements for both drug development and discovery. Read More: https://www.psmarketresearch.com/market-analysis/real-world-evidence-solutions-market

Aerial Imagery Market to Grow due to Need for Monitoring Threats The prevalence of natural disasters, such as fires, droughts, floods, tsunamis, hurricanes, and earthquakes, is increasing due to the rapidly changing climate. Climate change can lead to a rise in the risk of extreme weather and can further result in the increased risk of droughts and strength of storms, including tropical cyclones. Almost every part of the world is affected by natural disasters, and a total of 409 natural disasters occurred across the globe in 2019. Furthermore, in the same year, approximately 11,000 fatalities were caused by natural disaster events worldwide. Attributed to this rising prevalence of natural disasters, the governments of different countries are focusing toward the usage of new imagery solutions, such as aerial imagery, for determining the actual loss of life and property. The aerial imagery technology is extensively being preferred for updating the map information after a disaster occurs, since it provides high resolution images which are easy to understand for disaster management teams. The technology has the ability to monitor and assess potential damage from calamities, thereby enabling disaster management authorities to take corrective measures. It is because of such abilities of aerial imagery that the aerial imagery market is projected to advance at a considerable pace in the coming years. Aerial imagery has a number of applications in addition to disaster management, namely construction and development, surveillance and monitoring, exhibition and live entertainment, geospatial, conservation and research, and energy and resource management. Different types of aerial imagery are high oblique, low oblique, and vertical. Read More: https://www.psmarketresearch.com/market-analysis/aerial-imagery-market