The photoelectric sensor market size is projected to reach USD 2.1 billion by 2025 from an estimated USD 1.5 billion in 2020, at a CAGR of 7.8% from 2020 to 2025. Extensive use of photoelectric sensors in different industries increased the adoption of retroreflective photoelectric sensors in various applications, and surged adoption of industrial robots across several regions are among the factors driving the growth of the photoelectric sensor market.
The global motion control market size is expected to grow from USD 14.9 billion in 2020 to USD 16.5 billion by 2025, at a CAGR of 2.5%. Growth in adoption of automation in manufacturing facilities to secure employee health & safety in the COVID-19 crisis, high adoption of advanced and automated processes in the manufacturing sector, safety-enabled productivity in industries due to stringent safety rules imposed by governments, increasing demand for industrial robots in manufacturing processes, ease of use and integration of IIoT with motion control systems are the key factors driving the growth of the motion control market.
A power tools is actuated by an additional power source, such as electric, pneumatic, hydraulic, or gas power source. An electric power tool is the most common power tool that operates either on battery-operated or requires continuous power. Pneumatic power tools are driven by compressed air, supplied through air compressors, while hydraulic power tools operate on hydraulic fluids. Hydraulic power tools are powered by pressurized liquids and are used in heavy-duty industrial applications. Power-actuated tools are generally called as direct fastening tools and operate on explosion created by chemical substances. The power tools market is projected to grow from USD 29.5 billion in 2020 to USD 36.9 billion by 2025;
The VSaaS market is expected to grow from USD 2.2 billion in 2020 and is projected to reach USD 4.7 billion by 2025; it is expected to grow at a CAGR of 16.0% from 2020 to 2025.
The global intelligent flow meter market size was valued at USD 2.5 billion in 2020 and is projected to reach USD 3.1 billion by 2025; it is expected to grow at a CAGR of 4.4% from 2020 to 2025. The growth of the intelligent flow meter market is majorly driven by the benefits of accuracy, stability, and reliability provided by intelligent flow meters, high demand for these flow meters in chemicals and water & wastewater industries, and rising investments in industrial infrastructure activities.
The global asset integrity management services market size is expected to grow from USD 19.4 billion in 2020 to USD 24.2 billion by 2025 at a CAGR of 4.5%. Factors such as stringent safety regulations and quality control requirements laid down by governments, and climatic changes affecting the operations of various industries, thereby driving the asset integrity management services market.
The global Speaker Driver market size is projected to grow from USD 25.9 billion in 2020 to USD 29.3 billion by 2025; it is expected to grow at a CAGR 2.5 % (Value) from 2020 to 2025. Major factors driving the growth of the market include the increasing demand for smartphones owing to the surge in the adoption of audio and video streaming services and the growing popularity of True Wireless earphones. Opportunities for the Speaker Driver market include the increase in the sale of smartphones owing to the expansion of the 5G network; and the release of new headphones and earphones as a result of new advancements in wireless technology standards such as the new Wi-fi 6 and Bluetooth 5.2.
The anti-drone market was valued at USD 0.6 billion in 2020 and is projected to reach USD 2.4 billion by 2025; it is expected to grow at a CAGR of 32.2% from 2020 to 2025. Major factors driving the growth of this market are increasing use of drones terrorism and illicit activities worldwide and rising incidences of security breaches by unidentified drones.
The PC-based automation market comprises components such as industrial PCs, HMIs, PLCs, and SCADA. PC-based automation is used in process and well as discrete industries to automate and control manufacturing processes in these industries. The PC-based automation market is expected to be valued at USD 38.01 Billion by 2023, growing at a CAGR of 4.9% between 2018 and 2023. Some of the major factors driving the growth of the PC-based automation market are the evolution of IIoT and rising demand for smart automation solutions, increasing need for efficient monitoring in manufacturing plants, and growing emphasis on regulatory compliances.
The wearable AI market is projected to reach USD 42.4 billion by 2023 from USD 11.5 billion in 2018, at a CAGR of 29.75% during the forecast period. Major growth drivers are increase in demand for AI assistants, augmentation of operations in healthcare industry, emergence of IoT and integration of wireless technology, growth prospects of wearable component technology, and increase in consumer preference and demand for advanced wearable devices.