Quantum computing is a major innovation since the invention of the microprocessor and quantum computers are dis-similar from digital electronic computers based on transistors. Quantum computers are much faster and powerful than today's computers. These systems are still in its development stage; however, several military agencies and national governments are funding for quantum computing research to develop quantum computers for business, civilians, and security purposes.
SCADA (Supervisory Control and Data Acquisition) refers to an industrial computer system that monitors and controls a particular process. Electrical SCADA monitors electrical assets, substations, and transformers in T&D elements of electrical utilities. The robust adoption of renewable energy sources and the rise in power generation capacities across the globe has contributed to the growth of the electrical SCADA market in recent years. North America is likely to experience high demand for electrical SCADA during the forecast period with the rapid adoption of SCADA software and the strong presence of system suppliers in the region.
The wireless IoT sensors enables to gather information about surrounding environments over extended periods with less manual effort. The rising demand for consumer electronic products surges the demand for wireless IoT sensors. The high demand for IoT devices and communication networks is also increasing the demand for wireless IoT sensors.
Commercialization of 5G to stimulate the growth of Cellular IoT
Growing demand for renewable energy due to high power consumption and a reduction in renewable power generation costs drives the PV inverter market growth. Further, rising utility and industrial based solar PV deployment, integration of advanced energy infrastructure, and a reduction of installation costs for solar modules, inverters, and related equipment are also triggering the demand for the PV inverter market growth.