Technology Market report: December 2022

Thursday 22 December 2022

Satellite Communication Market Worth $159.6 Billion By 2030

The global Satellite Communication Market size is projected to reach USD 159.6 billion in 2030, registering a CAGR of 9.5% from 2022 to 2030, as per a new report by Grand View Research, Inc. The rising proliferation of small satellites for tactical communication, geospace & atmospheric research, and medium resolution imagery in military & defense applications has propelled the growth of the market. The increasing demand for satellite communication (Satcom) solutions from the aviation industry to improve airline operations and air traffic management is anticipated to boost market expansion during the forecast period.

It is anticipated that the advent of the 5G network and several scheduled Medium Earth Orbit (MEO) and Low Earth Orbit (LEO) satellite launches would propel the expansion of the Satcom market at a rapid pace. Additionally, the evolution of satellite communication in the connectivity sector has prompted Satcom operators to offer the global deployment of Internet of Things (IoT) solutions. More than 2.7 million devices are currently supported by satellites, including those used for aviation, infrastructure, trade, environmental monitoring, and military support.

Satcom providers have changed their business models in recent years to focus on providing high bandwidth satellite transponders with higher transponder throughput and lower prices. An incoming signal is identified and automatically responded to by a satcom transponder, a wireless communication, monitoring, and control device. Factors such as the increase in consumer broadband demand, corporate enterprise network need, and the expansion of Ka-band and Ku-band services are anticipated to drive the growth of the satellite transponder segment. Additionally, the overall demand has significantly increased due to recent space development missions by many space organizations, including China National Space Administration (China) and Indian Space Research Organization (India).

Related Press Release@ Satellite Communication Market Report

Satellite Communication Market Report Highlights

The global need for enhanced data communication is fueling the expansion of the market for satellite communication
The equipment category is anticipated to register the fastest CAGR of 10.2% owing to several advantages, including integrating targets, tracking movements, and discovering hidden tunnels
Due to the widespread use of satellite TV services in 2021, the broadcasting sector held the largest market share
The government & defense sector is predicted to witness the fastest CAGR of over 11% throughout the projection period since satellite communications are ideal for use in military activities across the globe
North America held the largest revenue share, followed by Europe. The region's increasing passenger traffic for marine and coastal tourism and the presence of a significant number of industry players are expected to contribute to this growth
EchoStar Corporation, Intelsat, L3 Technologies, Inc., SES S.A, Telesat, and Viasat, Inc. are some key players operating in the market

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Tuesday 20 December 2022

Wi-Fi 6, Wi-Fi 6E And Wi-Fi 7 Chipset Market Worth $80.8 Billion By 2030

The global Wi-Fi 6, Wi-Fi 6E, And Wi-Fi 7 Chipset Market size is expected to reach USD 80.8 billion by 2030, according to a new study by Grand View Research, Inc. It is expected to expand at a CAGR of 17.3% from 2022 to 2030. The growing demand for bandwidth capacity among consumers and enterprises for providing support for smart devices is one of the key factors driving the global market.

Increasing trends of e-learning techniques have expanded the deployment of next-generation wireless network infrastructure across several schools, universities, offices, and residents. In addition, accessing undisturbed content during online video streaming services has increased the need and demand for installing wi-fi 6, wi-fi 6E, and wi-fi 7 devices across the globe. Therefore, the increasing adoption of e-learning is expected to fuel the wi-fi 6, wi-fi 6E, and wi-fi 7 chipsets demand from 2022 to 2030.

With the evolution of industry 4.0., manufacturers from various industry verticals such as General Motors Company, BMW Group, Ford Motor Company, Volkswagen Group, and Toyota Group are implementing advanced technologies to transform their manufacturing facilities into smart and intelligent factories. A smart factory integrates numerous intelligent devices such as collaborative robots, IoT sensors, wireless cameras, and automated guided vehicles (AGV) to achieve self-adapting manufacturing capabilities. Providing seamless connectivity to these devices requires next-generation infrastructure, which is expected to accelerate the adoption of wi-fi 6 and wi-fi 6E devices worldwide. Therefore, it is anticipated to fuel the demand for chipsets over the next seven years.

Wi-fi 6, wi-fi 6E, and wi-fi 7 devices support multi-user, multi-input multi-output communications (MU-MIMO). The wi-fi 6 and 6E technology operates on the 6GHz band that can handle up to 12 upstream and downstream data streams on various frequency bands, such as 5GHz, 2.4GHz, and 6GHz. The wi-fi 7 technology using its 320MHz channel provides a high-speed advantage as compared to wi-fi 6 and 6E technology. With the notable investment opportunities in the smart cities globally, the next-generation wi-fi chipset-enabled devices would play a pivotal role in catering to the growing need for integrated internet connectivity for the mass population situated in public venues such as railway stations, bus stands, and airports. Thus, it is expected to bolster global market growth from 2022 to 2030.

Initially, in the 1st and 3rd quarters of 2020, the COVID-19 outbreak affected the production and supply chains for the wi-fi chipsets globally. The primary reason for this is the lockdown implemented by the governments across key countries such as the U.K., the U.S., Germany, and China. These lockdowns have forced the companies to temporarily shut down their manufacturing facilities and initiated restrictions on international travel. However, in the latter Q3 of 2020, the governments across many countries have provided certain relaxations in the lockdown, which has helped companies significantly recover the economic losses that happened during the Covid-19 times. Thus, it is expected to increase the overall market growth in the next seven years. Moreover, the high investments in the healthcare industry to create digitally advanced network infrastructure is further expected to drive the global market.

Related Press Release@ Wi-Fi 6, Wi-Fi 6E, And Wi-Fi 7 Chipset Market Report

Wi-Fi 6, Wi-Fi 6E, And Wi-Fi 7 Chipset Market Report Highlights

By device type, the WLAN infrastructure devices segment dominated the overall market with a revenue share of more than 40.0% in 2021. Increasing deployment of Wi-Fi 6 gateways and routers in commercial, residential, and industrial applications propelled the segment growth
The Wi-Fi 7 chipset type segment uses a 4K QAM modulation scheme to increase the throughput value, fuelling the market growth over the forecast period. The Wi-Fi 7 chipset features flexible channel utilization, minimizing the network's interference and enhancing connectivity
Based on volume, Asia Pacific held the largest share of over 35.0% in 2021 owing to the proliferation of smart devices across the region. Moreover, the availability of major electronic manufacturing bases in Japan, China, and South Korea is anticipated to fuel market growth
Increased spending on the deployment of digital infrastructure in the healthcare sector, rising smart city, and smart factory projects have propelled the growth of Wi-Fi chipsets in the U.S.
Several key players operating in the market across the globe are mainly focusing on acquisitions, mergers, and collaborations to strengthen their market presence and expand the overall product offerings

Wednesday 14 December 2022

Low-code Development Platform Market Worth $35.2 Billion By 2030

The global Low-Code Development Platform Market size is expected to reach USD 35.2 billion by 2030, registering a CAGR of 22.9% from 2022 to 2030, according to a new report by Grand View Research, Inc. The growth can be majorly attributed to the growing interest of organizations, especially amid the COVID-19 pandemic, toward the digital transformation of their business processes. The growing demand for solutions that can expedite the application development and automation of business processes has created wider scope for the adoption of low-code development platforms, thereby favoring the market expansion.

The market growth is being further driven by the continuous technological developments introduced by the industry players. For instance, in September 2021, Mendix Technology BV introduced artificial intelligence and other advanced features to its low-code development platform to allow companies to develop software more efficiently. The company has named the AI feature Page Bot which provides recommendations to the software teams about how to design a new application’s user interface.

Related Press Release@ Low-code Development Platform Market Report

Low-Code Development Platform Market Report Highlights

Web-based application segment is expected to witness a CAGR of over 22.0% from 2022 to 2030 owing to increasing demand for low-code development platforms as they help in developing applications using the similar resources as the traditional development process
The SMEs segment is expected to witness a significant growth rate of nearly 24.0% from 2022 to 2030 with the growing need to develop software applications with minimum operational cost and workforce
The IT and Telecom segment accounted for a revenue share of close to 21.0% in 2021 with the increasing need among these sectors to automate their operations and expedite the application development process
In North America, the market was valued at nearly USD 1.7 billion in 2021 owing to the strong presence of various major market players in the region and the introduction of innovative low-code development platform offerings by these players

Friday 9 December 2022

Cognitive Radio Market Size Worth $24.69 Billion By 2030

The global Cognitive Radio Market size is expected to reach USD 24.69 billion by 2030 and is expected to expand at a CAGR of 18.6% from 2022 to 2030. The emergence of 5G technology and increasing demand for advanced wireless communication devices in the government and defense sector is expected to fuel the demand for cognitive radios in the forecasted period. The demand for cognitive radios has increased owing to its benefits, such as optimized radio frequency spectrum and integration with Artificial Intelligence (AI) and Machine Learning (ML), making the system more efficient. Furthermore, the ability to overcome radio spectrum scarcity to improve satellite communications and enhance service quality is resulting in the faster adoption of cognitive radios worldwide, consequently driving the market globally.

The emergence of 5G technology is expected to empower various industries to access connected devices to improve bandwidth, latency limitations, and performance on connectivity. The 5G wireless networks are expected to provide low end-to-end latency, ubiquitous connectivity, improved energy efficiency, higher data transfer rates, and much higher system capacity. The cognitive radio network allows for dynamic spectrum sharing, which is necessary for 5G architecture. Therefore, the rapid adoption of 5G technology worldwide is likely to boost the global market for cognitive radio over the forecast period.

Cognitive radio is majorly adopted in the defense and government segment owing to the increasing demand for advanced and secured wireless communications. The technology has enabled government and defense organizations to shift from traditional hardware such as amplifiers, modulators, and mixers to Software-defined Radio (SDR), allowing them to overcome radio spectrum scarcity and improve satellite communications.

However, the rising concerns related to communication security hamper cognitive radios' growth. The inadequacies and vulnerable elements generated by the nature of cognitive radio may negatively impact security requirements and Quality of Service (QoS) delivery for the entire network, creating high chances open to attackers compared to traditional wireless networks. Moreover, technological advancements in the future are expected to overcome the issues related to communication security.

Related Press Release@ Cognitive Radio Market Report

Cognitive Radio Market Report Highlights

By components, the software segment is estimated to witness a significant growth rate through 2030. The growth can be attributed to the flexibility offered by cognitive radios resulting in their adoption in telecommunication, defense, and government segments
By application, the spectrum sensing segment is anticipated to grow significantly over the forecast period owing to its ability to prevent harmful interference with licensed users and improve spectrum utilization by identifying the available spectrum
By end-use verticals, the telecommunication segment is expected to record the highest revenue share of the market by 2030. The cognitive radio provides a favorable atmosphere to implement 5G technology as it meets the capacity demand of the spectrum of 5G wireless communication
Integrating cognitive radio with cloud computing, artificial intelligence, and machine learning and ongoing research and development efforts to strengthen network capabilities and provide secure wireless communication are some key strategies major market players adopt to increase their market share